<SEC-DOCUMENT>0001213900-19-003744.txt : 20190307
<SEC-HEADER>0001213900-19-003744.hdr.sgml : 20190307
<ACCEPTANCE-DATETIME>20190307163212
ACCESSION NUMBER:		0001213900-19-003744
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		117
CONFORMED PERIOD OF REPORT:	20181231
FILED AS OF DATE:		20190307
DATE AS OF CHANGE:		20190307

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IT TECH PACKAGING, 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:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34577
		FILM NUMBER:		19666263

	BUSINESS ADDRESS:	
		STREET 1:		SCIENCE PARK, JULI ROAD
		STREET 2:		XUSHUI COUNTY, BAODING CITY
		CITY:			HEBEI PROVINCE,
		STATE:			F4
		ZIP:			072550
		BUSINESS PHONE:		(86) 312-8698215

	MAIL ADDRESS:	
		STREET 1:		SCIENCE PARK, JULI ROAD
		STREET 2:		XUSHUI COUNTY, BAODING CITY
		CITY:			HEBEI PROVINCE,
		STATE:			F4
		ZIP:			072550

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Orient Paper Inc.
		DATE OF NAME CHANGE:	20080102

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CARLATERAL, INC.
		DATE OF NAME CHANGE:	20060403
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>f10k2018_ittechpackaging.htm
<DESCRIPTION>ANNUAL REPORT
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0; font-family: Times New Roman, Times, Serif"><DIV STYLE="font: 1pt Times New Roman, Times, Serif; border-top: Black 2pt solid; border-bottom: black 1.5pt solid; width: 100%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FORM
10-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Mark
One)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;&nbsp;&nbsp;&nbsp;&nbsp;<B>ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the fiscal year ended December 31, 2018</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;&nbsp;&nbsp;&nbsp;<B>TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the transition period from _____________to ______________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Commission
file number&nbsp;&nbsp;<B>001-34577</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
Tech Packaging, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Nevada</B></FONT></TD>
    <TD STYLE="width: 2%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>20-4158835</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">State&nbsp;or&nbsp;other&nbsp;jurisdiction&nbsp;of</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(I.R.S.&nbsp;Employer</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Incorporation&nbsp;or&nbsp;organization</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Identification&nbsp;No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Science
Park, Juli Road,</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Xushui
District, Baoding City</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Hebei
Province, The People&rsquo;s Republic of China 072550</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Address
of principal executive offices) (Zip Code)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Registrant&rsquo;s
telephone number, including area code: <B>(86) 312-8698215</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
registered pursuant to Section 12(b) of the Act:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title
    of each class</FONT></TD>
    <TD STYLE="width: 2%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name
    of each exchange on which registered</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Common
    Stock</B></FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NYSE
    MKT LLC</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
registered pursuant to section 12(g) of the Act:&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Title
of class)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. &#9744;&nbsp;Yes&nbsp;&nbsp;&nbsp;&#9746;&nbsp;No&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. &#9744;&nbsp;Yes&nbsp;&nbsp;&nbsp;&#9746;&nbsp;No&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.&nbsp;&#9746; Yes &#9744; No&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 405 of Regulation S-T (&sect; 232.405 of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit such files).&nbsp;&#9746;&nbsp;Yes &nbsp;&#9744; No&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (&sect; 229.405 of this chapter) is not
contained herein, and will not be contained, to the best of registrant&rsquo;s knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. &#9744;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo;
&ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act.&nbsp;&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 27%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Large&nbsp;accelerated&nbsp;filer&nbsp;</FONT></TD>
    <TD STYLE="width: 6%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;&nbsp;</FONT></TD>
    <TD STYLE="width: 37%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 20%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="width: 9%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-accelerated&nbsp;filer</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Smaller&nbsp;reporting&nbsp;company</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
    growth company</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). &#9744; Yes &nbsp;&#9746; No&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
aggregate market value of the voting and non-voting common stock of the registrant held by non-affiliates as of&nbsp;June 30,
2018 was approximately $16,010,829 based upon 16,010,829 shares of common stock held by non-affiliates and the closing price of
the common stock of $1.00 on June 29, 2018.&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of March 7, 2019, there were 22,022,316 shares of the registrant&rsquo;s common stock, par value $0.001, outstanding.&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">DOCUMENTS
INCORPORATED BY REFERENCE: None.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 5.5pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>TABLE
OF CONTENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; width: 10%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 82%; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 8%; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Page</B></FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PART
    I</FONT></A></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    1.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BUSINESS</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    1A.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK
    FACTORS</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">14</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    1B.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNRESOLVED
    STAFF COMMENTS</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    2.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROPERTIES</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    3.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL
    PROCEEDINGS</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    4.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MINE
    SAFETY DISCLOSURES</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PART
    II</FONT></A></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    5.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MARKET
    FOR REGISTRANT&rsquo;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">25</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    6.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SELECTED
    FINANCIAL DATA</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">27</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    7.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT&rsquo;S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">28</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_012"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    7A.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_012"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">QUANTITATIVE
    AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">41</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_013"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    8.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_013"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FINANCIAL
    STATEMENTS AND SUPPLEMENTARY DATA</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">41</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_014"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    9.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_014"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CHANGES
    IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">42</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_015"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    9A.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_015"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CONTROLS
    AND PROCEDURES</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">42</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_016"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    9B.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_016"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OTHER
    INFORMATION</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">42</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_017"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PART
    III</FONT></A></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_018"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    10.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_018"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIRECTORS,
    EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">43</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_019"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    11.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_019"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXECUTIVE
    COMPENSATION</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">46</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_020"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    12.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_020"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SECURITY
    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_021"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    13.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_021"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTAIN
    RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">48</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_022"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    14.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_022"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRINCIPAL
    ACCOUNTANT FEES AND SERVICES</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">50</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD COLSPAN="3" STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_023"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PART
    IV</FONT></A></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_024"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Item
    15.</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_024"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXHIBITS
    AND FINANCIAL STATEMENT SCHEDULES</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">51</FONT></TD></TR>
<TR STYLE="background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_025"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item
    16</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><A HREF="#a_025"><FONT STYLE="font-family: Times New Roman, Times, Serif">FORM
    10-K SUMMARY</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">52</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD COLSPAN="2" STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><A HREF="#a_026"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIGNATURES</FONT></A></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">53</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>INTRODUCTION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
this annual report, &ldquo;IT Tech Packaging,&rdquo; &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;our&rdquo; or &ldquo;us&rdquo;
refer to IT Tech Packaging, Inc., and unless the context requires otherwise, includes its subsidiaries and its controlled entity,
Hebei Baoding Dongfang Paper Milling Company Limited. &ldquo;Baoding Shengde&rdquo; means our PRC subsidiary Baoding Shengde Paper
Co., Ltd. &ldquo;Dongfang Paper&rdquo; means Hebei Baoding Dongfang Paper Milling Company Limited.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
references to &ldquo;RMB&rdquo; or &ldquo;Renminbi&rdquo; refer to the legal currency of China; all references to &ldquo;US$,&rdquo;
&ldquo;dollars,&rdquo; &ldquo;U.S. dollars&rdquo; and &ldquo;$&rdquo; refer to the legal currency of the United States.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
annual report on Form 10-K includes our audited consolidated statements of income and comprehensive income and our audited consolidated
balance sheets as of December 31, 2017 and 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FORWARD
LOOKING STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
Annual Report on Form 10-K contains &ldquo;forward-looking statements.&rdquo; These statements are made under the &ldquo;safe
harbor&rdquo; provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking
statements by terms such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;future,&rdquo;
&ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;is/are likely to&rdquo; and similar
expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Factors
that could cause or contribute to such differences in results and outcomes include, without limitation, our anticipated revenues
from the corrugating medium paper business segment and offset printing paper business, our ability to implement the planned capacity
expansion of tissue paper, our ability to introduce new products, market acceptance of new products, general economic and business
conditions, the ability to attract or retain qualified senior management personnel and research and development staff, and those
specifically addressed under the headings &ldquo;Risks Factors&rdquo; and &ldquo;Management&rsquo;s Discussion and Analysis of
Financial Condition and Results of Operations.&rdquo; The forward-looking statements made in this annual report relate only to
events as of the date on which the statements are made. We undertake no obligation, beyond any than as required by law, to update
any forward-looking statement to reflect events or circumstances after the date on which the statement is made, even though our
situation changes in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
operate in an emerging and evolving environment. New risk factors emerge from time to time and it is impossible for our management
to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_001"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PART
I</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_002"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
1. Business</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Corporate
History</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging, Inc. (the &ldquo;Company&rdquo;) was incorporated in the State of Nevada on December 9, 2005, under the name &ldquo;Carlateral,
Inc.&rdquo; Through the steps described immediately below, we became the holding company for Hebei Baoding Dongfang Paper Milling
Company Limited (&ldquo;Dongfang Paper&rdquo;), a producer and distributor of paper products in China, on October 29, 2007, and
effective December 21, 2007, we changed our name to &ldquo;Orient Paper, Inc.&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Effective
on August 1, 2018, we changed our corporate name to IT Tech Packaging, Inc.. The name change was effected through a parent/subsidiary
short-form merger of IT Tech Packaging, Inc., our wholly-owned Nevada subsidiary formed solely for the purpose of the name change,
with and into us. We were the surviving entity. In connection with the name change, our common stock began being traded under
a new NYSE symbol, &ldquo;ITP,&rdquo; and a new CUSIP number, 46527C100, at such time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
October 29, 2007, pursuant to an agreement and plan of merger (the &ldquo;Merger Agreement&rdquo;), the Company acquired Dongfang
Zhiye Holding Limited (&ldquo;Dongfang Holding&rdquo;), a corporation formed on November 13, 2006 under the laws of the British
Virgin Islands, and issued the shareholders of Dongfang Holding an aggregate of 7,450,497 (as adjusted for a four-for-one reverse
stock split effected in November 2009) shares of our common stock, which shares were distributed pro-rata to the shareholders
of Dongfang Holding in accordance with their respective ownership interests in Dongfang Holding. At the time of the Merger Agreement,
Dongfang Holding owned all of the issued and outstanding stock and ownership of Dongfang Paper and such shares of Dongfang Paper
were held in trust with Zhenyong Liu, Xiaodong Liu and Shuangxi Zhao, for Mr. Liu, Mr. Liu and Mr. Zhao (the original shareholders
of Dongfang Paper) to exercise control over the disposition of Dongfang Holding&rsquo;s shares in Dongfang Paper on Dongfang Holding&rsquo;s
behalf until Dongfang Holding successfully completed the change in registration of Dongfang Paper&rsquo;s capital with the relevant
PRC Administration of Industry and Commerce as the 100% owner of Dongfang Paper&rsquo;s shares. As a result of the merger transaction,
Dongfang Holding became a wholly owned subsidiary of the Company, and Dongfang Holding&rsquo;s wholly owned subsidiary, Dongfang
Paper, became an indirectly owned subsidiary of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Holding, as the 100% owner of Dongfang Paper, was unable to complete the registration of Dongfang Paper&rsquo;s capital under
its name within the proper time limits set forth under PRC law. In connection with the consummation of the restructuring transactions
described below, Dongfang Holding directed the trustees to return the shares of Dongfang Paper to their original shareholders,
and the original Dongfang Paper shareholders entered into certain agreements with Baoding Shengde Paper Co., Ltd. (&ldquo;Baoding
Shengde&rdquo;) to transfer the control of Dongfang Paper over to Baoding Shengde.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
June 24, 2009, the Company consummated a number of restructuring transactions pursuant to which it acquired all of the issued
and outstanding shares of Shengde Holdings Inc., a Nevada corporation. Shengde Holdings Inc. was incorporated in the State of
Nevada on February 25, 2009, and holds a wholly-owned subsidiary, Baoding Shengde, a limited liability company organized under
the laws of the PRC on June 1, 2009. Because Baoding Shengde is a wholly-owned subsidiary of Shengde Holdings Inc., it is regarded
as a wholly foreign-owned entity under PRC law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Effective
June 24, 2009, Baoding Shengde, Dongfang Paper and the original shareholders of Dongfang Paper entered into a number of contractual
arrangements, as subsequently amended on February 10, 2010, pursuant to which Baoding Shengde acts as the management company for
Dongfang Paper, and Dongfang Paper conducts the principal operations of the business. The contractual arrangements, as amended,
effectively transferred the preponderance of the economic benefits of Dongfang Paper to Baoding Shengde, and Baoding Shengde assumed
effective control and management over Dongfang Paper. The contractual arrangements, as amended, include the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exclusive
    Technical Service and Business Consulting Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
exclusive technical service and business consulting agreement, entered into by and between Baoding Shengde and Dongfang Paper,
provides that Baoding Shengde shall provide exclusive technical, business and management consulting services to Dongfang Paper,
in exchange for service fees including a fee equivalent to 80% of Dongfang Paper&rsquo;s total annual net profits. &nbsp;The agreement
is terminable upon mutual written agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Call Option
    Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
call option agreement, entered into by and between Baoding Shengde, Dongfang Paper and the shareholders of Dongfang Paper, provides
that the shareholders of Dongfang Paper irrevocably grant to Baoding Shengde an option to purchase all or part of each shareholder&rsquo;s
equity interest in Dongfang Paper. The exercise price for the options shall be RMB1 yuan for each of the shareholders&rsquo; equity
interests, or if at any time there are PRC laws regulating the minimum exercise price of such options, then to the extent permitted
under PRC Law. The call option agreement contains covenants from Dongfang Paper and its shareholders that they will refrain from
taking certain actions without Baoding Shengde&rsquo;s consent that would materially affect Dongfang Paper&rsquo;s operations
and asset value, including (i) supplementing or amending its articles of association or bylaws, (ii) changing Dongfang Paper&rsquo;s
registered capital or shareholding structure, (iii) selling, transferring, mortgaging or disposing of any interests in Dongfang
Paper&rsquo;s assets or income, or encumbering Dongfang Paper&rsquo;s assets or income in a way that would approve a security
interest on such assets, (iv) incurring or guaranteeing any debts not incurred in its normal business operations, (v) entering
into any material contract or urging Dongfang Paper management to dispose of any Dongfang Paper assets, unless it is within the
company&rsquo;s normal business operations; (vi) providing any loan or guarantee to any third party; (vii) appointing or removing
any management personnel or directors that can be changed upon Dongfang Paper shareholder approval; (viii) declaring or distributing
any dividends to the stockholders. &nbsp;The agreement remains effective until Baoding Shengde or its designees have acquired
100% of the equity interests of Dongfang Paper underlying the options.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Share Pledge
    Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
share pledge agreement entered into by and between Baoding Shengde, Dongfang Paper and the shareholders of Dongfang Paper, provides
that the Dongfang Paper shareholders will pledge all of their equity interests in Dongfang Paper to Baoding Shengde as security
for their obligations under the other management agreements described in this section. Specifically, Baoding Shengde is entitled
to dispose of the pledged equity interests in the event that the Dongfang Paper shareholders or Dongfang Paper fails to pay the
service fees to Baoding Shengde pursuant to the exclusive technical service and business consulting agreement or fails to perform
their other obligations under the other management agreement. The agreement contains covenants from Dongfang Paper&rsquo;s shareholders
that they will refrain from taking certain actions without Baoding Shengde&rsquo;s prior written consent, such as transferring
or assigning their equity interests, or creating or permitting the creation of any pledges which may have an adverse effect on
the rights or benefits of Baoding Shengde under the agreement. &nbsp;The Dongfang Paper shareholders also promise to comply with
the laws and regulations relevant to the pledges under the agreement and to facilitate in good faith the protection of the ability
of Baoding Shengde to exercise its rights under the agreement. &nbsp;The terms of the share pledge agreement remains in effect
until all the obligations under the other management agreements have been fulfilled, whether or not the terms of the other management
agreements have expired.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 48px; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proxy Agreement</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
proxy agreement, entered into by and between Baoding Shengde, Dongfang Paper and the shareholders of Dongfang Paper, provides
that the Dongfang Paper shareholders shall irrevocably entrust a designee of Baoding Shengde with such shareholder&rsquo;s voting
rights and the right to represent such shareholder to exercise his or her rights at any shareholder&rsquo;s meeting of Dongfang
Paper or with respect to any shareholder action to be taken in accordance with the laws and Dongfang Paper&rsquo;s Articles of
Association. &nbsp;The terms of the agreement are binding on the parties for as long as the Dongfang Paper shareholders continue
to hold any equity interest in Dongfang Paper. &nbsp;An Dongfang Paper shareholder will cease to be a party to the agreement once
it transfers its equity interests with the prior approval of Baoding Shengde.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
June 24, 2009, Zhao Tianqing, the sole shareholder of Shengde Holdings Inc., assigned to the Company, for good and valuable consideration,
100 shares representing 100% of the issued and outstanding shares of Shengde Holdings Inc. &nbsp;As a result of this assignment
and the restructuring transactions described above, Shengde Holdings Inc., Baoding Shengde, and Dongfang Paper became directly
and indirectly controlled by the Company, and Dongfang Paper continued to function as the Company&rsquo;s operating entity.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition to controlling the operations and beneficial ownership of Dongfang Paper, Baoding Shengde also acquired a digital photo
paper production line (including two photo paper coating lines and ancillary equipment) in an asset acquisition transaction on
November 25, 2009 and began directly conducting business in the PRC. We suspended production of photo paper in June 2016 and now
are upgrading the production line to produce more competitive photo paper products. We expect to resume our digital photo paper
production in the near future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">An
agreement was entered into among Baoding Shengde, Dongfang Paper and the shareholders of Dongfang Paper on December 31, 2010,
reiterating that Baoding Shengde is entitled to the distributable profit of Dongfang Paper, pursuant to the above mentioned Exclusive
Technical Service and Business Consulting Agreement. In addition, Dongfang Paper and the shareholders of Dongfang Paper agreed
that they would not declare any of Dongfang Paper&rsquo;s unappropriated earnings, including any earnings of Dongfang Paper from
its establishment to 2010 and thereafter, as dividend.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following diagram sets forth the current corporate structure of IT Tech Packaging:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 3%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 97%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">100%&nbsp;ownership</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="img_01.jpg" ALT=""><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Controlled
    by&nbsp;contractual arrangements</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img_02.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
Business</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
engage in production and distribution of three categories of paper products: corrugating medium paper, offset printing paper and
tissue paper products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">From
late January 2018 to mid-March 2018, the Company temporarily suspended its production due to a government-mandated restriction
on the supply of natural gas, which is the energy resource we need for production. On March 14, 2018, the Company resumed production
at its manufacturing facilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
principal executive offices are located at Science Park, Juli Road, Xushui District, Baoding City, Hebei Province, People&rsquo;s
Republic of China. Our telephone number is (86) 312-869-8215. Our website is located at http://www.itpackaging.cn.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Manufacturing
Process</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Corrugating
Medium Paper and Offset Printing Paper</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
current products (excluding tissue paper products) generally undergo two stages of manufacturing: (1) creating pulp from recycled
paper products, and (2) treating the pulp and molding it into the desired types of paper products.&nbsp;&nbsp;A brief overview
of the pulp and papermaking process is provided below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Pulping</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
recycled waste paper is first sorted by machine, and then broken down and beaten or smashed into small pieces using water and
mechanical energy. It is then put through a course screening drum, followed by a fine screening drum to separate different grades
of pulp, a process that we refer as &ldquo;concentration&rdquo;. In order to purify the pulp further, an approach flow system
is used to filter out any impurities or inconsistencies, such as sand, in the pulp.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Paper
Making</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
pulp is sieved to remove the excess water and molded into a specific size. The moisture content is further reduced by applying
hydraulic pressure to the pulp.&nbsp;&nbsp;The pulp then enters the drying section where it is rolled over by heated cylinders.
The dried paper is then coated with a mixture of clay, white pigment and binder to produce a surface on which ink can sit without
being fully absorbed, enabling crisper, more consistent print quality.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
paper goes through a process called calendaring, which flattens and smoothens the paper into long sheets. The paper is then wound
onto a reel that is mounted in a roll-slitting machine for rewinding, during which cutters are used to cut the paper into the
desired widths. Upon completion, the rolls are fitted with sleeves and labeled, and then sent to quality control before shipment
or storage.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img_03.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Base
Tissue Paper</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">While
we make tissue paper products, we currently do not manufacture base tissue paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Products</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Corrugating
medium paper</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Corrugating
medium paper, or CMP is used in the manufacturing of cardboard. Since the launch of our new Paper Machine (&ldquo;PM6&rdquo;)
production line in December 2011, corrugating medium paper has become a major product of the Company. For the year ended December
31, 2018, corrugating medium paper comprised approximately 96.05% of our total paper production quantities and roughly 94.08%
of our total revenue.&nbsp;&nbsp;Raw materials used in the production of corrugating medium paper include recycled paper board
(or Old Corrugating Cardboard or &ldquo;OCC,&rdquo; as it is commonly referred to in the United States) and certain supplementary
agents. In January 2013, we suspended the operation of our PM1 production line for renovation, which was then used to produce
corrugating medium paper. In May 2014, we launched the commercial production of a renovated PM1 production line. The renovated
PM1 production line produces light-weight corrugating medium paper with a specification of 40 to 80 grams per square meter (&ldquo;g/s/m&rdquo;).
PM1&rsquo;s light-weight corrugating medium paper products have a wide range of commercial applications. For example, they can
be used as a construction material for wall and floor insulation or to manufacture moisture-proof packaging materials for the
transportation of books and magazines by the publishing industry. It can also be used as corrugating medium to make corrugating
cardboard for packaging that requires light-weight boxes. The manufacturing process of light-weight corrugating medium paper is
similar to that of the regular corrugating medium paper and also uses recycled paper boards as a major source of raw material.
We now have two corrugating medium paper production lines, PM6 and PM1. We refer to products produced from the PM6 production
line as Regular CMP and products produced from the PM1 production line as Light-Weight CMP.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Offset
printing paper</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Offset
printing paper is used for offset printing in the publishing industry.&nbsp;&nbsp;Offset printing paper comprised approximately
3.95% of our total paper production quantities and approximately 5.92% of our total sales revenue for the year ended December
31, 2018.&nbsp;&nbsp;Raw materials used in making offset printing paper include recycled white scrap paper,&nbsp;fluorescent whitening
agent and sizing agent. We currently have two production lines, PM2 and PM3, for the production of offset printing paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Tissue
Paper Products</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
began the commercial production of tissue paper products in Wei County Industry Park in June 2015. We process base tissue paper
purchased from long-term cooperative third party and produce finished tissue paper products, including toilet paper, boxed and
soft-packed tissues, handkerchief tissues and paper napkins, as well as bathroom and kitchen paper towels that are marketed and
sold under the Dongfang Paper brand. In December 2018, we completed the construction and installation and test of operation of
PM8 and announced the commercial launch of tissue paper production. We expect to commence the full operation of production and
sales of tissue paper products in year 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Market
for our Products</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>The
PRC Paper Making Industry</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">According
to the 2017 China Paper Industry Annual Report, issued by the China Paper Association, there were approximately 2,800 paper and
paper board manufacturers (down from 3,700 in 2010) in China, with a total output of 111.30 million tonnes, up by 2.53% from 108.55
million tonnes in 2016. Total domestic consumption was 108.97 million tonnes in 2017, up by 4.59% from 104.19 million tonnes in
2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compared
with 2008, output in 2017 increased by approximately 39.47% and consumption grew by approximately 37.33%. The output of paper
and paper board maintained an average growth rate of approximately 3.77% during the ten-year period from 2008 to 2017, while consumption
increased at an average annual rate of 3.59%. The growth is expected to continue. It is estimated that China currently has the
largest paper and paper board products output and consumption in the world. <I>(Data source: 2017 Annual Report of China Paper
Manufacturing, August 2018, China Paper Association)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="img_04.jpg" ALT="" STYLE="width: 486px; height: 273px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Data
source: 2017 Annual Report of China Paper Manufacturing, August 2018, China Paper Association</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Corrugating
medium paper production in China totaled 23.35 million tonnes in 2017, a 2.86% increase from 2016. Consumption of corrugating
medium paper in China amounted to 23.96 million tonnes in 2017, an increase of 5.50% as compared to 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Uncoated
offset printing paper production in China totaled 17.90 million tonnes in 2017, a 1.13% increase from 2016. Consumption of uncoated
offset printing paper in China amounted to 17.44 million tonnes in 2017, an increase of 3.26% as compared to 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
paper making industry in China is concentrated in the east coast provinces. The largest paper production capacities by province
for 2016 and 2017 (the most recent year for which relevant information is available) are summarized in the table below. The three
provinces with largest capacities showed moderate increases in paper production capacities; provinces with smaller capacities,
such as, Chongqing, Hebei and Fujian, showed noticeable increases as well.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Province</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2016&nbsp;Capacity</FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif">(10k&nbsp;tonnes)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2017&nbsp;Capacity</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(10k
                                         tonnes)</B></FONT></P></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%
    Change</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 64%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Guangdong</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,840</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.885</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.45</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shandong</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,850</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.875</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.35</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Zhejiang</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,690</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.711</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.24</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jiangsu</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,285</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.253</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2.49</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fujian</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">705</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">758</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.52</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Henan</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">610</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">568</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(6.89</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chongqing</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">280</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">309</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.36</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Anhui</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">295</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">302</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.37</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Hebei</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">275</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">297</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.00</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Hunan</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">310</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">290</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(6.45</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Data
Sources: 2017 Annual Report of China Paper Manufacturing, August 2018, China Paper Association</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Industry
Consolidation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Historically,
the paper and pulp industry in China was comprised of numerous small-scale production enterprises, many of which used low-technology
production processes that produce significant pollution.&nbsp;&nbsp;In 1996, China&rsquo;s State Council issued &ldquo;Decisions
on Environmental Protection Issues,&rdquo; setting forth strict rules and regulations intended to reduce pollution, including
a directive for the closure of all paper plants with an annual output of less than 50,000 tonnes.&nbsp;&nbsp;Recognizing that
China constitutes one of the largest markets for paper consumption in the world and with potential for continued expansion, the
PRC government continues its efforts to consolidate, modernize, and promote the environmental sustainability of the industry.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
part of its 11th &ldquo;Five Year Economic Development Plan,&rdquo; the PRC State Council announced on May 5, 2010 that up to
530,000 tonnes of inefficient/polluting paper production capacity was to be eliminated or shut down in 2010. On August 5, 2010,
the Ministry of Industry and Information Technology (the &ldquo;MIIT&rdquo;) published a list of mandatory capacity closures and
ordered the shutdown of a total of 4.6 million tonnes of capacity by September 2010. Following the first wave of mandatory capacity
closures in 2010, the MIIT announced on July 11, 2011 that 8.2 million tonnes of outdated paper milling capacity at 599 paper
companies across China were required to close down in 2011, of which 72 companies with a total capacity of 1.07 million tonnes
that accounts for 13% of total closures were located in the province of Hebei.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">According
to &ldquo;<I>The Twelfth &lsquo;Five-Year Plan&rsquo; for the Chinese Paper Industry</I>,&rdquo; published jointly by the National
Development and Reform Commission, the MIIT and the National Forestry Bureau in December 2011, the central government of China
determined to eliminate more than 10 million tonnes of paper production capacity during the five-year period ended 2015. The goal,
through mandatory capacity elimination and industry consolidation, was to transform the paper industry landscape into one where
the number of one-million-tonnes-and-above manufacturers would increase from 10 to more than 20. According to the MIIT announcement
on September 6, 2012, a total of 9.9 million tonnes of outdated paper production capacity was ordered to close in 2012. On July
25, 2013, the MIIT announced a list of outdated paper facilities slated for closure in 2013. According to MIIT, a total of 6.21
million tonnes of paper manufacturing capacity on the July 25, 2013 list across the country was required to be shut down by the
end of 2013, including 930,800 tonnes in the Hebei Province. In September 2013, the second batch of closures targeting 1.2 million
tonnes nationwide was announced by the MIIT. The closure of outdated facilities continued in 2014 and a total of 4.92 million
tonnes of paper manufacturing capacity was shut down. On July 24, 2014, the MIIT announced that facilities producing 3.97 million
tonnes of paper and pulp, including 500,000 tonnes in Hebei Province, were mandated to be retired by the end of 2014. On August
18, 2014, MIIT announced another list of outdated paper facilities that were required to be closed by the end of 2014. The August
18, 2014 list shut down 0.66 million tonnes of paper manufacturing capacity, including 5,000 tonnes in Hebei Province. Unlike
the mandatory closures in previous years when, most of the closures involved small-scale local mills, usually with less than 50,000
tonnes of production capability and without proper water treatment practices, the 2013 and 2014 mandatory closure lists included
a number of large capacity paper machines (up to 226,000 tonnes per line) that failed to meet the environmental and energy savings
standards.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
mandatory closure of outdated capacity is expected to continue in the next few years. As a result, we estimate that the average
selling prices for corrugating medium paper and other packaging paper will be volatile in 2019, and the paper industry will witness
increased competition and higher standards for environmental protection measures. See &ldquo;Risk Factors - Risks Related to Our
Business -We might be negatively affected by the industry capacity elimination mandated by the government.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Customers</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
generally sell our corrugating medium paper to companies making corrugating cardboards and offset printing paper to printing companies.
Our largest customer is a printing company in Tianjin City. Our total corrugating medium and offset printing paper revenue in
2018 was primarily derived from customers in Tianjin, Hebei Province and Shandong Province.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the year ended December 31, 2018, five major customers who individually accounted for more than 5% of our total sales revenue
are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2018
                                         Sales&nbsp;Amount</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($USD,
                                         net of applicable VAT)</B></FONT></P></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%
    of Total&nbsp; Revenue</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company
    A (Tianjin)</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,876,689</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.77</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company
    B (Tianjin)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,469,626</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.31</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company
    C (Shandong)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,373,148</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.19</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company
    D (Baoding)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,359,419</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.18</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company
    E ( Langdang)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,926,457</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.68</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Major Customers</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">27,005,339</FONT></TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">31.13</FONT></TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Three
of our&nbsp;top-ten customers of 2018 are also in the top-ten customer list in 2017, representing 46.2% of the 2017 top-ten customer
sales.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Target
Market</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
target corporate customers in the middle range of the marketplace, where, with solid quality and competitive pricing, we see potential
for high volume growth for corrugating medium paper and offset printing paper. Our primary market has been the region of North
China, especially in the province of Hebei.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
Production Lines</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">During
the year ended December 31, 2018, we had five PM production lines in operation and are in the process of launching two more that
are tentatively designated as PM7and PM9. These production lines include the followings:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PM#</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Paper
    Product Produced</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Designed
    Capacity (tonnes/year)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Owned
    by</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Operated
    by</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Status
    as of December&nbsp;31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 10%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM1</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Corrugating
    Medium Paper</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">60,000</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 27%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
    production</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM2</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Offset Printing
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">50,000</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">In production</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM3</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Offset Printing
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">40,000</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">In production</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM4</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Digital Photo
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Baoding
    Shengde</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Baoding
    Shengde</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Suspended
    in June 2016 due to low market demand</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM5</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Digital Photo
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Baoding
    Shengde</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Baoding
    Shengde</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Suspended
    in June 2016 due to low market demand</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM6</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Corrugating
    Medium Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">360,000</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Baoding
    Shengde</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper***</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">In production</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM7*</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Specialty
    paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under renovation
    and preparing for launch by the end of 2019</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM8</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tissue paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,000</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">In production</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM9*</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tissue paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,000</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The ancillary
    equipment has been installed.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0%; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.35in; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">*:</FONT></TD><TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paper
                                         machines under renovation, under construction, or in the planning stage.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0%; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.35in; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">***:</FONT></TD><TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">PM6
                                         is funded and owned by Baoding Shengde; ancillary facilities that support the PM6 operation
                                         are built and owned by Dongfang Paper.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
December 31, 2009, we acquired a digital photo paper production line, including two coating lines that are designated as PM4 and
PM5 and ancillary equipment, for a total purchase price of approximately $13.6 million. We suspended production of photo paper
in June 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
order to meet the growing domestic demand for paper, which we believe currently exceeds domestic supply in the case of corrugating
medium paper, especially in the region of North China, we installed a corrugating medium paper production line (PM6) with a designed
capacity of 360,000 tonnes per year. We completed the installation of the PM6 production line in November 2011 and began commercial
production in December 2011.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have implemented a plan to renovate one of the old production lines that has been idle since the end of 2007. We previously made
paper with anti-counterfeit features from that production line. When the renovation is completed, we intend to use the renovated
production line to produce high-profit margin specialty papers. Our current plan is to complete the renovation project, put in
place a new production and marketing team and launch the renovated production line as PM7 by the end of 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
November 27, 2012, we signed a 15-year lease relating to approximately 49.4 acres of land in the Economic Development Zone in
Wei County, Hebei Province, China for the purpose of developing a new tissue paper production plant. We plan to build two tissue
paper production lines, each with 15,000 tonnes/year capacity, and other packaging facilities and infrastructures on the leased
land. In December 2012, we signed a contract with an equipment contractor in Shanghai to build PM8, the first of our two tissue
paper production lines in Wei County. In December 2018, we completed the construction and installation and test of operation of
PM8 and announced the commercial launch of tissue paper production. We will commence the full operation of production and sales
of tissue paper products in year 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
voluntarily renovated our 150,000 tonnes/year corrugating medium paper PM1 in anticipation of increased regulatory concerns on
energy efficiencies as well as to improve the quality of our corrugating medium products. Rather than converting PM1 to a regular
corrugating medium paper machine, we decided in 2013 that, based on the market conditions and our waste water treatment capability,
the better option was to convert PM1 to produce Light-Weight CMP with a specification of 40 to 80 grams per square meter (&ldquo;g/s/m&rdquo;)
with a designed capacity of 60,000 tonnes/year. We started the renovation in January 2013 and launched commercial production of
the renovated PM1 production line in May 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Raw
Materials and Principal Suppliers</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
supplies used in our production processes are comprised mainly of recycled paper board and unprinted recycled white scrap paper,
both of which are ready-to-use items and available from multiple domestic and foreign sources. We currently purchase all of our
recycled paper supplies from some domestic recycling stations and do not rely on imported recycled paper. We also purchase coal
and chemical agents from nearby suppliers.&nbsp;&nbsp;Ongoing inflationary pressures and higher demand for recycled paper could
lead to an increase in our costs of raw materials and production, which we may or may not be able to pass to our customers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
sign annual raw materials supplier contracts with our suppliers.&nbsp;&nbsp;Although we have contracts with our suppliers, these
contracts do not lock-in the purchase price of our raw materials or provide hedge against the fluctuation in the market price
of these raw materials. &nbsp;For the year ended December 31, 2018, we had two large suppliers which accounted for approximately
82% and 7% of our total purchases, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018, two major suppliers who individually accounted for more than 5% of our total purchase are as
follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2018
                                         Purchase Amount</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>($USD,
                                         net of applicable VAT)</B></FONT></P></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%
    of Total Purchase</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company
    A (Baoding)</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">56,860,986</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">82</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Company
    B (Baoding)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,111,746</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">7</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Major Suppliers</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">61,972,732</FONT></TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-weight: bold; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">89</FONT></TD><TD STYLE="padding-bottom: 4pt; font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Competition</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Paper&rsquo;s main competitors are: Chenming Paper Group Limited, Huatai Group Limited, Nine Dragons Paper (Holdings) Limited
and Sun Paper Group Limited.&nbsp;A number of our competitors are public entities with larger capacities, broader customer bases
and greater financial resources than those available to us. The businesses of our primary competitors are briefly described below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chenming
Paper Group, Ltd. (&ldquo;Chenming&rdquo;), based in Shandong Province (located in northeast China), produces primarily newsprint
paper and art paper (high quality, heavy and two-side coated printing paper).&nbsp;&nbsp;Chenming is believed to be the first
company to have listed on all three stock exchanges in China: Renminbi A-shares and foreign currency B-shares in Shenzhen, the
smaller of the mainland&rsquo;s two stock exchanges, and H-shares in Hong Kong. &nbsp;Chenming has annual production capacity
of 8.5 million tonnes for its coated wood-free paper product and is believed to rank among the top 500 enterprises in China.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Huatai
Group, Ltd. (&ldquo;Huatai&rdquo;), based in Shandong Province (located in the northern part of the eastern coastal region of
China), primarily produces newsprint, fine paper, special printing paper, coated board and tissue paper.&nbsp;&nbsp;Huatai is
the first Shandong papermaker to publicly list its stock and has become a famous brand in China. Its annual paper production is
estimated to have reached 4 million tonnes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nine
Dragons Paper (Holdings) Limited (&ldquo;ND Paper&rdquo;), based in Guangdong Province (located in southern China), is the largest
paper manufacturer in China and primarily produces kraft paper and high-strength corrugating medium paper with annual capacity
of 13 million tonnes. ND Paper has reported that it has five production lines in the city of Tianjin with a total designed capacity
of 2.15 million tonnes, producing products such as kraft paper, high strength corrugating medium paper and grey-back duplex board.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sun
Paper Group, Ltd., based in Shandong Province, primarily produces card paper, whiteboard paper and art paper.&nbsp;&nbsp;It also
produces alkaline peroxide mechanical pulp, sourced in part from woodchips harvested by the company&rsquo;s poplar plantations.&nbsp;&nbsp;This
company has reported that it has an aggregate annual production capacity of paper and pulp of approximately 5.7 million tonnes
and has been listed on the Shenzhen Stock Exchange since 2006.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">With
the exceptions of Chenming and ND Paper, which may compete directly with us in the offset printing paper market and the corrugating
medium paper market, respectively, in the Beijing/Tianjin/greater Hebei regions, we believe that we face only indirect competition
from the above-listed companies, either because we have a different product assortment from these companies, or because, to the
extent they do offer products similar to ours, the transportation costs and storage costs make it difficult for these companies
to compete effectively with us on pricing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
Competitive Edge</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Regional
advantage (Northern China)</I>.&nbsp;We believe that Dongfang Paper is one of the leading papermaking enterprises in Hebei Province.&nbsp;&nbsp;Our
proximity to large urban centers in northern China, Beijing and Tianjin, gives us access to a large market to sell our products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
are other paper manufacturers that are also located in Hebei Province (and close to metropolitan Beijing and Tianjin areas), but
most of these other manufacturers are small in scale and unable to compete with us effectively. We also compete with other large
printing paper manufacturers for Beijing printing company customers. We believe that we have cost and geographical advantages
over these larger competitors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Cost
advantage</I>.&nbsp;&nbsp;Unlike some of our out-of-province competitors who must set up interim warehouses and ship products
from their production base to such interim warehouses close to their customer base in Beijing, there is no need for us to set
up interim warehouses, because we are approximately 60 miles (100 kilometers) from Beijing, the cultural center of China and our
largest target market. While we do not separately pay for transportation cost on raw material purchases, the transportation cost
included in the raw material purchase prices from our recycled paper suppliers is lower than the transportation cost paid by our
competitors in the province of Shandong. We also enjoy lower transportation costs for coal, a major source of energy used in our
production process. Similarly, our customers pay lower transportation cost to pick up their orders from our finished goods warehouse
in Baoding than what they would pay if they had to pick up goods from locations further away from Beijing. Tianjin, another large
urban center, is also approximately 60 miles from our facilities.&nbsp;Baoding city itself is also home to numerous printing and
packaging companies. Our geographical advantage and easy access to low-cost raw materials allow us to implement a more flexible
inventory purchase policy, lower our purchase prices and inventory management expenses and reduce our production cost. As such,
we have lower freight costs and other associated costs of sales, which enable us to charge lower prices, if necessary, for our
products. Additionally, because we buy all recycled paper raw materials from Beijing and Tianjin, rather than from the United
States or Japan, our purchase lead time is shorter as compared to manufacturers who rely on imported recycled paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Research
and Development</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
R&amp;D activities are carried out by a task force led by a group of senior managers (in charge of product development and quality
control) and by a group of selected engineers and technicians. &nbsp;The Company charged the time spent on the R&amp;D projects
(manufacturing waste discharge recycling, digital photo paper and tissue paper manufacturing) to R&amp;D expenses. Our R&amp;D
efforts in 2018 has focused on evaluating and developing new products that are in the pipeline for 2018 and included developing
and improving the manufacturing process of Light-Weight CMP and the production and packaging technology of tissue paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">One
of our production lines, PM7, is under renovation. Since the fourth quarter of 2010, we have spent approximately $1.57 million
in machine parts and new components to renovate this production line, with which we expect to produce certain specialty papers,
including wood-grain deco and furniture paper, wallpaper and paper with security features (for anti-counterfeiting purposes).
While we are optimistic about the prospect of the renovation project, we cannot guarantee the launch of the specialty paper production
(which is tentatively scheduled by the end of 2019) or the success of such renovation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Intellectual
Property</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Paper has registered three trademarks with the Trademark Bureau under the State of Administration for Industry &amp; Commerce.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Certificate</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Trademark</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; vertical-align: top; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>No.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Category</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Registrant</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 1pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Valid&nbsp;Term</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 9%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shuangxing</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3298963</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fax
    paper, thermal paper, blueprint paper, sensitized paper, spectrum sensitized paper, blueprint cloth, photographic paper, cyanotype
    solution, diazo paper</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">April
    7, 2014 through April 6, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fangmenglai</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">12955328</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Toilet paper,
    handkerchief tissues, tissues, paper napkins, paper mats, beer mats, paper place mats, printing paper (including offset paper,
    newsprint, books paper, bond paper, plate paper and halftone paper), coated paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    28, 2014 through December&nbsp;27, 2024</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fangqingxin</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">12955235</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Toilet paper,
    handkerchief tissues, tissues for makeup remover, paper napkin, tissues, paper duster cloth, paper face towels, paper table
    cloth, paper tablecloths, drawer liner (with or without flavor)</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    28, 2014 through December&nbsp;27, 2024</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Domain
names</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging has registered the internet domain name, <U>http://www.itpackaging.cn</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Government
Regulation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
testing, approval, manufacturing, labeling, advertising and marketing, post-approval safety reporting and export of our products
are extensively regulated by governmental authorities in the PRC. We are also subject to various other regulations and permit
requirements by the Chinese government. These regulations and their impact on our business are set forth in more details below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Environmental
Regulation</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
operations and facilities are subject to environmental laws and regulations stipulated by the national and the local environment
protection bureaus in the PRC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Since
the implementation of the State Council&rsquo;s &ldquo;Decisions on Environmental Protection Issues&rdquo; in 1996, the PRC paper
industry has been subject to more rigorous environmental standards.&nbsp;&nbsp;Effective January 1, 2015, a new law promulgated
by the National People&rsquo;s Congress of the People&rsquo;s Republic of China makes certain violations of the environmental
laws a criminal offense. We believe that we are one of the few major paper manufacturers in Hebei Province that have obtained
a Pollution Discharge Permit. We initially received the permit in September 1996 and, we have successfully renewed the permit
each year by complying with applicable environmental requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Waste
Water Treatment</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Paper uses a multi-level water recycling process. Waste water from the pulping process is fed into collection pools, where it
is divided into two parts, water and recovered pulp fiber.&nbsp;&nbsp;The latter is returned to the pulping process.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chemical
agents are added to the waste water, and the waste water is fed into a biogas reactor and filtering pools, producing purified
water and depositing sludge.&nbsp;&nbsp;Most of the purified water is recycled to produce corrugating medium paper and the sludge
is pumped into a sludge pool, condensed and dehydrated. We then use the sludge as a raw material in the manufacture of corrugating
medium paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
maintain computerized controls at our production facilities on a 24-hour basis to monitor compliance with environmental rules
and regulations. We are not aware of any environmental investigations, prosecutions, disputes, claims or other environmental proceedings,
nor have we been subject to any action by any environmental administration authorities of the PRC. To our knowledge, our operations
meet or exceed the existing environmental requirements of the PRC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Employees</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, we have approximately 537 full time employees. The Company provides private insurance coverage for any workplace
accident or injury for all the operators of paper milling machinery in the workshops. These employees are organized into a labor
union under the labor laws of the PRC and have collective bargain power against us.&nbsp;We generally maintain good relations
with&nbsp;our employees and the labor union.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Available
Information</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are required to file annual, quarterly and current reports, proxy statements and other information with the U.S. Securities and
Exchange Commission (&ldquo;SEC&rdquo;). The public may read and copy any materials that we file with the SEC. In addition, the
SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers
like our Company that file electronically with the SEC at http://www.sec.gov.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, proxy statements and amendments to those
reports (including exhibits) filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as
amended, are also available free of charge on our Internet site at http://www.itpackaging.cn as soon as reasonably practicable
after such reports are electronically filed with or furnished to the SEC. The information on our website is not, and shall not
be deemed to be, a part hereof or incorporated into this or any of our other filings with the SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Executive
Officers</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
information regarding our executive officers as of March 7, 2019, see Part III, Item 10, &ldquo;Directors, Executive Officers
and Corporate Governance.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_003"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;1A.
Risk Factors</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Risks
Relating to our Business</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>In
the past, our ability to continue as a going concern was in doubt. Although we do not currently doubt our ability to continue
as a going concern, our liquidity position poses risk to our operations, especially our capacity expansion projects.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, we had current assets of approximately $24.16 million and current liabilities of approximately $29.63 million,
resulting in a working capital deficiency of approximately $5.47 million. We are currently seeking to restructure the term of
our liabilities by raising funds through long-term loans to pay off liabilities with shorter terms. In the event that we fail
to raise funds or negotiate terms of the current liabilities sufficient to meet our liquidity needs, we may be forced to substantially
curtail our operations or otherwise take measures that would materially and adversely affect our business, results of operations
and business prospects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, from time to time, we investigate financing opportunities with banks and other financial institutions and investors
both inside and outside of China, and we may seek long-term financings to pay off liabilities with shorter terms. We may seek
additional funds through public and private financing, including equity and debt offering. As of the date of this report, we have
not entered into any material binding agreement for additional long-term financing. There can be no assurance that we will be
able to secure such financing either from banks or through debt or equity investments from investors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we are unable to obtain sufficient banking facilities or generate sufficient operating cash flow internally, the progress of the
construction or renovation may slow down. We may also have to curtail the scope of the capital expenditure projects or to shelf
some components of the projects (for example, delay the installation of PM9 until additional capital resources are available).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>In
order to comply with PRC regulatory requirements, we operate our businesses through companies with which we have contractual relationships
but in which we do not have controlling ownership.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not have direct or indirect equity ownership of Dongfang Paper which operates a majority of our business. Although we have
entered into contractual arrangements with Dongfang Paper and its individual owners pursuant to which we receive an economic interest
in Dongfang Paper, and exert a controlling influence over Dongfang Paper, in a manner substantially similar to a controlling equity
interest, these contractual arrangements are not as effective in providing control over Dongfang Paper as direct ownership. For
example, Dongfang Paper may be unwilling or unable to perform their contractual obligations under our commercial agreements, including
payment of consulting fees under the Exclusive Technical Service and Business Consulting Agreement as they become due. If that
were to occur, we would not be able to conduct our operations in the manner currently planned. In addition, we may not succeed
in enforcing our rights under the contractual arrangements insofar as our contractual rights and legal remedies under Chinese
law may be inadequate. Furthermore, Dongfang Paper may seek to renew their agreements on terms that are disadvantageous to us.
If we are unable to renew these agreements on favorable terms when these agreements expire, or to enter into similar agreements
with other parties, we will lose control of Dongfang Paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Because
we rely on the consulting services agreement with Dongfang Paper for essentially all of our revenue and cash flows, any difficulty
for Dongfang Paper to pay consulting fees to Baoding Shengde under the consulting agreement may have a material adverse effect
on our operations.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a holding company and currently conduct business through Dongfang Paper. As a result, we rely on payments from the consulting
services agreement which forms a part of the contractual arrangements between Baoding Shengde and Dongfang Paper. Since Baoding
Shengde is not a legal shareholder of Dongfang Paper under PRC statutes, the arrangement for Dongfang Paper to pay a substantial
portion of its net income to Baoding Shengde may be challenged by the PRC government, which could prevent us from receiving required
funds or making required payments to some of our service providers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>If
the PRC government determines that our agreements with these companies are not in compliance with applicable regulations, our
business in the PRC could be materially adversely affected.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we believe the restructuring transaction and our current business operations are in compliance with the current laws in China,
we cannot be sure that the PRC government would share the same view. If we are determined not to be in compliance, the PRC government
could levy fines, revoke our business and operating licenses, require us to discontinue or restrict our operations, restrict our
right to collect revenues, require us to restructure our business, corporate structure or operations, impose additional conditions
or requirements with which we may not be able to comply, impose restrictions on our business operations or on our customers, or
take other regulatory or enforcement actions against us that could be harmful to our business. As a result, our business in the
PRC could be materially adversely affected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>The
shareholders of Dongfang Paper may have potential conflicts of interests with us, which may adversely affect our business.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
operate most of our businesses through Dongfang Paper. Our Chairman, Chief Executive Officer and 24.93% shareholder, Zhenyong
Liu, owns 93.39% of the equity interest in Dongfang Paper. Conflicts of interests between his duties to us and to Dongfang Paper
may arise. We cannot assure you that when conflicts of interest arise, he will act in the best interests of our Company or that
any conflict of interest will be resolved in our favor. These conflicts may result in management decisions that could negatively
affect our operations and potentially result in the loss of opportunities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
arrangements with Dongfang Paper and its shareholders may be subject to a transfer pricing adjustment by the PRC tax authorities
which could have an adverse effect on our income and expenses.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
could face material and adverse tax consequences if the PRC tax authorities determine that our contracts with Dongfang Paper and
its shareholders were not entered into based on arm&rsquo;s length negotiations. If the PRC tax authorities determine that these
contracts were not entered into on an arm&rsquo;s length basis, they may adjust our income and expenses for PRC tax purposes in
the form of a transfer pricing adjustment. Such an adjustment may require that we pay additional PRC taxes plus applicable penalties
and interest, if any.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>The
exercise of our option to purchase part or all of the equity interests in Dongfang Paper under the Call Option Agreement might
be subject to approval by the PRC government. Our failure to obtain this approval may impair our ability to substantially control
Dongfang Paper and could result in actions by Dongfang Paper that conflict with our interests.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Call Option Agreement with Dongfang Paper and its shareholders gives our Chinese subsidiary, Baoding Shengde or its designated
entity or natural person, the option to purchase all or part of the equity interests in Dongfang Paper. The option may not be
exercised by Baoding Shengde if the exercise would violate any applicable laws and regulations in China or cause any license or
permit held by, and necessary for the operation of Dongfang Paper, to be cancelled or invalidated. Under the laws of China, if
a foreign entity, through a foreign investment company that it invests in, acquires a domestic related company, China&rsquo;s
regulations regarding mergers and acquisitions may technically apply to the transaction. If these regulations apply, an examination
and approval of the transaction by China&rsquo;s Ministry of Commerce (&ldquo;MOFCOM&rdquo;), or its local counterparts would
be required. In addition, an appraisal of the equity interest or the assets to be acquired would also be mandatory. Since the
scope of business activities (making of cultural paper products) as defined in the business license of Baoding Shengde does not
involve the MOFCOM approval and monitoring, we do not believe at this time that an approval or an appraisal is required for Baoding
Shengde to exercise its option to acquire Dongfang Paper. In light of the different views on this issue, however, it is possible
that the central MOFCOM office in Beijing will issue a standardized opinion imposing the approval and appraisal requirement. If
we are not able to purchase the equity of Dongfang Paper, then we will lose a substantial portion of our ability to control Dongfang
Paper and our ability to ensure that Dongfang Paper will act in our interests.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
anticipate to incur significant capital expenditures in 2019.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
expect to incur significant capital expenditures in the tissue paper production line project in 2019 and possibly beyond. We have
substantially increased our debt leverage to fund these projects. As of December 31, 2018, we had approximately $2 million in
capital expenditure commitments that were mainly related to improvement of Industrial Buildings. If we cannot fund or effectively
manage our capital expenditures or if our capital expenditures do not lead to the results we anticipate, our business, financial
position and operating performance may be materially and adversely affected. An increased debt burden may also materially and
adversely affect our liquidity, financial condition and our business. If we are unable to obtain sufficient funding through banking
borrowings or generate sufficient operating cash flow internally, the progress of the construction or renovation may be slowed
down. We may also have to curtail the scope of the capital expenditure projects or to shelf some components of the projects (for
example, delay the installation of PM9 until additional capital resources are available).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
operating history may not serve as an adequate basis to judge our future prospects and results of operations.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Paper commenced its current line of business operations in 1996 and received its initial Pollution Discharge Permit in September
1996, which must be renewed every year for Dongfang Paper to stay in business. Although we have never had problem renewing the
Pollution Discharge Permit, we cannot guarantee automatic renewal every year. In addition, Baoding Shengde commenced its current
line of business operations in 2009. Therefore, our operating history may not provide a more meaningful basis on which to evaluate
its business. We cannot assure you that Dongfang Paper or Baoding Shengde we will not incur net losses in the future. We expect
that operating expenses of Dongfang Paper and Baoding Shengde will increase as they expand. Any significant failure to realize
anticipated revenue growth could result in significant operating losses. We will continue to encounter risks and difficulties
frequently experienced by companies at a similar stage of development, including our potential failure to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.5in; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">raise
    adequate capital for expansion and operations;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">implement
    our business model and strategy and adapt and modify them as needed;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">increase
    awareness of our brand name, protect our reputation and develop customer loyalty;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">manage
    our expanding operations and service offerings, including the integration of any future acquisitions;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">maintain
    adequate control of our expenses; or</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">anticipate
    and adapt to changing conditions in paper markets in which we operate as well as the impact of any changes in government regulations,
    mergers and acquisitions involving our competitors, technological developments and other significant competitive and market
    dynamics.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we are not successful in addressing any or all of these risks, our business may be materially and adversely affected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Dongfang
Paper and Baoding Shengde&rsquo;s failure to compete effectively may adversely affect our ability to generate revenue.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Through
Dongfang Paper and Baoding Shengde, we compete in a highly developed market with companies that have significantly greater experience
and history in our industry. If we do not compete effectively, we could lose market share and experience reduced selling prices,
adversely affecting our financial results. Our competitors will expand in the key markets and implement new technologies making
them more competitive. There is also the possibility that competitors will be able to offer additional products, services, lower
prices, or other incentives that we cannot or will not offer or that will make our products less profitable. We cannot assure
you that we will be able to compete effectively with current or future competitors or that the competitive pressures we face will
not harm our business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
might be negatively affected by the industry capacity elimination mandated by the government.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
described under the heading &ldquo;Industry Consolidation&rdquo; in &ldquo;Business&rdquo; section, the government has been requiring
outdated paper facilities to close since 2010 and is expected to continue to strictly reinforce the mandatory closure of outdated
capacity in the next few years. We have continued to focus on updating our production facilities to improve the operating and
energy efficiency and reduce pollution. Based on our consultations with the regulators, we believe that none of our production
facilities are currently targeted for mandatory capacity reduction. Based on information currently available to us, we do not
expect that we would be ordered to reduce or shut down our production capacities. However, the Chinese government has broad discretion
in determining the facilities subject to its production elimination mandate, and we cannot assure you that the government would
not require us to shut down some or all of our production capacities. If we were forced to shut down one or more of our production
facilities, our business, prospectus, financial condition and results of operations may materially and adversely affected. Depending
on the scope of the government capacity elimination order, we could be forced to cease some or all of our operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>If
Dongfang Paper fails to comply with covenants in its loan agreements, its lenders may allege a breach of a covenant and seek to
accelerate the loan or exercise other remedies, which could strain our cash flow and harm our business, liquidity and financial
condition.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Paper received loans from commercial banks to fund its operations. Typically, these loans are made pursuant to customary loan
agreements which contain representations and warranties about its business, financial covenants to which Dongfang Paper must adhere
and other negative covenants in respect of its operations. Under some of these agreements, Dongfang Paper may be required to obtain
the consent of its lenders prior to entering into its contractual arrangement with us but Dongfang Paper did not receive such
prior consent. To date, our lenders have not given us any notice of default or otherwise objected to our contractual arrangements
with Dongfang Paper. If any lender raises any concern in this regard, we intend to secure a waiver from our lenders, but cannot
assure you that we will successfully do so. If we cannot obtain such a wavier and Dongfang Paper&rsquo;s lenders declare it to
be in default under the loan agreements, they may accelerate Dongfang Paper&rsquo;s indebtedness to them which would negatively
affect our cash flows and business operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
may not be able to effectively control and manage our growth.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
our business and markets grow and develop, it will be necessary for us to finance and manage expansion in an orderly fashion.
An expansion would increase demands on existing management, workforce and facilities. Failure to satisfy such increased demands
could interrupt or adversely affect our operations and cause delay in production and delivery of our paper products, as well as
administrative inefficiencies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We,
through our subsidiaries, may engage in future acquisitions that could dilute the ownership interests of our stockholders and
cause us to incur debt and assume contingent liabilities.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We,
through our subsidiaries, may review acquisition and strategic investment prospects that we believe would complement the current
product offerings of Dongfang Paper, augment its market coverage or enhance its technical capabilities, or otherwise offer growth
opportunities. From time to time we review investments in new businesses and we, through our subsidiaries, expect to make investments
in, and to acquire, businesses, products, or technologies in the future. We expect that when we raise funds from investors for
any of these purposes we will be either the issuer or the primary obligor while the proceeds will be forwarded to Dongfang Paper.
In the event of any future acquisitions, we could:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">issue equity
    securities which would dilute current stockholders&rsquo; percentage ownership;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">incur substantial
    debt;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">assume contingent
    liabilities; or</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">expend significant
    cash.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
actions could have a material adverse effect on our operating results or the price of our common stock. Moreover, even if we do
obtain benefits in the form of increased sales and earnings, there may be a lag between the time when the expenses associated
with an acquisition are incurred and the time when we recognize such benefits. Acquisitions and investment activities also entail
numerous risks, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.5in; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">difficulties
    in the assimilation of acquired operations, technologies and/or products;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">unanticipated
    costs associated with the acquisition or investment transaction;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
    diversion of management&rsquo;s attention from other business concerns;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">adverse
    effects on existing business relationships with suppliers and customers;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">risks
    associated with entering markets in which Dongfang Paper has no or limited prior experience;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
    potential loss of key employees of acquired organizations; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;
    &nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">substantial
    charges for the amortization of certain purchased intangible assets, deferred stock compensation or similar items. &nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
cannot ensure that we will be able to successfully integrate any businesses, products, technology, or personnel that we might
acquire in the future and our failure to do so could have a material adverse effect on our and/or Dongfang Paper&rsquo;s business,
operating results and financial condition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
are responsible for the indemnification of our officers and directors.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Articles of Incorporation provides for the indemnification and/or exculpation of our directors, officers, employees, agents and
other entities which deal with us to the maximum extent provided, and under the terms provided, by the laws and decisions of the
courts of the state of Nevada. Although we do maintain professional error and omission insurance for the officers and directors,
due to limitations of the insurance coverage these indemnification provisions could still result in substantial expenditures which
we may be unable to recoup through the insurance and could adversely affect our business and financial conditions. Zhenyong Liu,
our Chairman of the Board and Chief Executive Officer, Jing Hao, our Chief Financial Officer, Dahong Zhou, our Secretary, and
Marco Ku Hon Wai, Wenbing Christopher Wang, Lusha Niu, and Fuzeng Liu, our directors, are key personnel with rights to indemnification
under our Articles of Incorporation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
are dependent on certain key personnel and loss of these key personnel could have a material adverse effect on our business, financial
condition and results of operations.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
success is, to a certain extent, attributable to the management, sales and marketing, and paper factory operational expertise
of key personnel. Zhenyong Liu, our Chief Executive Officer and Chairman of the Board, Jing Hao, our Chief Financial Officer,
Dahong Zhou, our Secretary, and Shuting Liang, Dongfang Paper&rsquo;s General Engineer, Gengqi Yang, Dongfang Paper&rsquo;s Vice
President of Sales and Marketing, Xuetao Chen, Dongfang Paper&rsquo;s Vice President of Environmental Protection and Xiaodong
Liu, Baoding Shengde&rsquo;s General Manager, perform key functions in the operation of our business. There can be no assurance
that IT Tech Packaging or Dongfang Paper or Baoding Shengde will be able to retain these officers after the term of their employment
contracts expire. The loss of these officers could have a material adverse effect upon our business, financial condition, and
results of operations. We do not carry key man life insurance for any of our key personnel or personnel nor do we foresee purchasing
such insurance to protect against a loss of key personnel and personnel.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are dependent upon the services of Mr. Zhenyong Liu for the continued growth and operation of our Company because of his experience
in the industry and his personal and business contacts in the PRC. Although Mr. Liu has entered into an employment agreement with
Baoding Shengde, our wholly owned subsidiary and a PRC company, and that we have no reason to believe that Mr. Liu will discontinue
his services with us or Dongfang Paper, the interruption or loss of his services would adversely affect our ability to effectively
run our business and pursue our business strategy as well as our results of operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
may not be able to hire and retain qualified personnel to support our growth and if we are unable to retain or hire these personnel
in the future, our ability to improve our products and implement our business objectives could be adversely affected.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
must attract, recruit and retain a sizeable workforce of technically competent employees. Competition for senior management and
senior personnel in the PRC is intense, the pool of qualified candidates in the PRC is very limited, and we may not be able to
retain the services of our senior executives or senior personnel, or attract and retain high-quality senior executives or senior
personnel in the future. This failure could materially and adversely affect our future growth and financial condition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
operating results may fluctuate as a result of factors beyond our control.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
operating results may fluctuate significantly in the future as a result of a variety of factors, many of which are beyond our
control. These factors include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.5in; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
    costs of paper products and development;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
    relative speed and success with which we can obtain and maintain customers, merchants and vendors for our products;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">capital
    expenditure for equipment;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">marketing
    and promotional activities and other costs;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">changes
    in our pricing policies, suppliers and competitors;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
    ability of our suppliers to provide products in a timely manner to their customers;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">changes
    in operating expenses;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">increased
    competition in the paper markets; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">other
    general economic and seasonal factors.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
face risks related to product liability claims.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
presently do not maintain product liability insurance. We face the risk of loss because of adverse publicity associated with product
liability lawsuits, whether or not such claims are valid. We may not be able to avoid such claims. Although product liability
lawsuits in the PRC are rare, and we have not, to date, experienced significant failure of our products, there is no guarantee
that we will not face such liability in the future. This liability could be substantial and the occurrence of such loss or liability
may have a material adverse effect on our business, financial condition and prospects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
operating results also depend on the availability and pricing of energy and raw materials.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition to our dependence upon wood pulp, recycled white scrap paper and paperboard costs, our operating results depend on the
availability and pricing of energy and other raw materials. An interruption in the supply of supplemental chemical agents could
cause a material disruption at our mill. In addition, an interruption in the supply of natural gas could cause a material disruption
at our facilities. At present, our raw materials including natural gas are purchased from a number of suppliers, of which the
three largest suppliers account for over 89% of all purchases. If any of these contracts were to be terminated for any reason,
or not renewed upon expiration, or if market conditions were to substantially change creating a significant increase in the price
of natural gas and recycled paper, we may not be able to find alternative, comparable suppliers or suppliers capable of providing
coal to us on terms or in amounts satisfactory to us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have replaced all the coal boilers with natural gas boiler in September 2017, but due to the gas consumption rise significantly,
the government will from time to time issue mandated restriction/suspension of natural gas supply for all natural gas consumption
industries, including the paper manufacturing industry in order to secure adequate natural gas to households uses in urban and
rural areas. We are subject to the risks of natural gas supply restriction and above-mentioned factors. As a result, our business,
financial condition and operating results could suffer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>A
material disruption at one of our manufacturing facilities could prevent us from meeting customer demand, reduce our sales, and/or
negatively affect our net income.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
of our manufacturing facilities, or any of our machines within an otherwise operational facility, could cease operations unexpectedly
due to a number of events, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">maintenance
    outages;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">prolonged
    power failures;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">an equipment
    failure, including any malfunction of our waste water treatment facilities;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">disruption
    in the supply of raw materials, such as wood fiber, energy, or chemicals;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">a chemical
    spill or release;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">closure because
    of environmental-related concerns;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">explosion
    of a boiler;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">the effect
    of a drought or reduced rainfall on our water supply;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">disruptions
    in the transportation infrastructure, including roads, bridges, railroad tracks, and tunnels;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">fires, floods,
    earthquakes, hurricanes, or other catastrophes;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">terrorism
    or threats of terrorism;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">labor difficulties;
    or</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">other operational
    problems.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any of the abovementioned events were to occur, we may be unable to meet customer demand, which may adversely affect our sales
and net income.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
certificates, permits, and licenses related to our papermaking operations are subject to governmental control and renewal and
failure to obtain renewal will cause all or part of our operations to be terminated.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
1988, the National Environmental Protection Bureau issued Interim Measures on the Administration of Water Pollutants Discharge
Permits, requiring all companies discharging pollution into the water as a direct or indirect byproduct of production to adhere
to certain caps on pollution discharge. Additionally, such companies were required to obtain and annually renew a Pollution Discharge
Permit in order to conduct their operations. The PRC government has the authority to shut down a company&rsquo;s operations for
its failure to maintain a valid permit. We renewed our Pollution Discharge Permit in August 2016. Our latest permit is effective
from August 8, 2016 through August 7, 2019. An application to renew will be filed by us with the local environment protection
agency before the expiration.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
failure by us to obtain any certificate, permit, and license necessary for our operations or the failure by us to obtain the renewal
of any such certificate, permit or license may materially and adversely affect our business, prospects, financial condition and
results of operation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Compliance
with environmental regulations is expensive, and noncompliance may result in adverse publicity and potentially significant monetary
damages and fines or suspension of our business operations.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are required to comply with all Chinese national and local regulations regarding the protection of the environment. Compliance
with environmental regulation is expensive. The Chinese government is adopting even more stringent environmental protection and
operational safety regulations and the costs of complying with these regulations are expected to increase. Although we have obtained
all of the necessary approvals and permits for our production facilities currently existing, we cannot assure you that we will
be able to comply with all applicable environmental protection and operational safety requirements, and obtain all of the required
governmental approvals and permits that may be or may become applicable to us on a timely basis, or at all, or will be able to
complete all our registrations and filings with the government, in time for our future projects. The relevant governmental authorities
may impose on us fines for any non-compliance, set deadlines for rectification, and order us to cease construction or production
if we fail to comply with their requirements.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>If
we are unable to respond to pricing pressures, our business may be harmed.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
order to remain competitive, from time to time we have to adjust the prices of our products to remain competitive. We may not
have available sufficient financial or other resources to continue to make investments necessary to maintain our competitive position.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>If
we fail to introduce enhancements to our existing products or to develop new products, our business and results of operations
could be adversely affected.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
believe that our future success depends in part on our ability to enhance our existing products and develop new products in order
to continue to meet customer demand. Our failure to introduce new or enhanced products on a timely and cost-competitive basis,
or the development of processes that make our existing products obsolete, could harm our business and results of operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
auditor, like other independent registered public accounting firms operating in China, is not permitted to be subject to inspection
by the Public Company Accounting Oversight Board, and as such, investors may be deprived of the benefits of such inspection.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
independent registered public accounting firm that issues the audit reports included in our annual reports filed with the SEC,
as an auditor of companies that are traded publicly in the United States and a firm registered with the Public Company Accounting
Oversight Board (United States), or PCAOB, is required by the laws of the United States to undergo regular inspections by PCAOB
to assess its compliance with the laws of the United States and professional standards. On May 24, 2013, the PCAOB announced that
it had signed a Memorandum of Understanding (&ldquo;MOU&rdquo;) with Chinese securities regulators that would enable the PCAOB
under certain circumstances to obtain audit work papers of China-based audit firms. The MOU establishes a framework under which
the PCAOB can request and obtain audit papers and permits the PCAOB to share the work papers it obtains with the SEC, subject
to certain requirements. But the MOU, which is non-binding, is also limited by its own terms. For instance, Chinese regulators
may refuse to produce documents in specified circumstances, including where production would violate Chinese law or run contrary
to the public interest. Moreover, the MOU does not provide the PCAOB with the ability to conduct on-the-ground inspections of
auditors in China, an important part of the Board&rsquo;s oversight function. As a result, our auditor, like other independent
registered public accounting firms operating in China, is currently not inspected by PCAOB in the same way that PCAOB requests
independent registered public accounting firms operating outside China. Inspections of other firms that PCAOB has conducted outside
of China have identified deficiencies in those firms&rsquo; audit procedures and quality control procedures, which may be addressed
as part of the inspection process to improve future audit quality. The inability of PCAOB to conduct regular inspections of independent
registered public accounting firms operating in China makes it more difficult to evaluate the effectiveness of our auditor&rsquo;s
audit procedures or quality control procedures. As a result, investors may be deprived of the benefits of PCAOB regular inspections.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
have limited insurance coverage and may incur losses resulting from product liability claims or business interruptions.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
the insurance industry in China is still in an early stage of development, insurance companies in China currently offer limited
business insurance products. We do not have any product liability insurance or business interruption insurance. Based on the insurance
products available in China, even if we decide to take out business interruption coverage, such insurance as currently available
offers limited coverage compared to that offered in many other jurisdictions. Any business disruption, natural disaster, or product
liability claim could result in our incurring substantial costs and diversion of resources, which would have an adverse effect
on our business and results of operations.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Risks
Related To Doing Business in the PRC</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Changes
in the policies of the PRC government could have a significant impact upon the business we may be able to conduct in the PRC and
the profitability of such business.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
business operations may be adversely affected by the current and future political environment in the PRC. The PRC has operated
as a socialist state since the middle of the 20th century and is controlled by the Communist Party of China. The Chinese government
exerts substantial influence and control over the manner in which we must conduct our business activities. The PRC has only permitted
provincial and local economic autonomy and private economic activities since 1978. The government of the PRC has exercised and
continues to exercise substantial control over virtually every sector of the Chinese economy, including the paper industry, through
regulation and state ownership. Our ability to operate in the PRC may be adversely affected by changes in Chinese laws and regulations,
including those relating to taxation, import and export tariffs, raw materials, environmental regulations, land use rights, property
and other matters. Under its current leadership, the government of the PRC has been pursuing economic reform policies that encourage
private economic activity and greater economic decentralization. There is no assurance, however, that the government of the PRC
will continue to pursue these policies, or that it will not significantly alter these policies from time to time without notice.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Policies
of the PRC government can have significant effects on the economic conditions of the PRC. The PRC government has confirmed that
economic development will follow the model of a market economy. Under this direction, we believe that the PRC will continue to
strengthen its economic and trading relationships with foreign countries and business development in the PRC will follow market
forces. While we believe that this trend will continue, there can be no assurance that this will be the case.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
change in policies by the PRC government could adversely affect our interests by, among other factors: changes in laws, regulations
or the interpretation thereof, confiscatory taxation, restrictions on currency conversion, imports or sources of supplies, or
the expropriation or nationalization of private enterprises. Although the PRC government has been pursuing economic reform policies
for more than two decades, there is no assurance that the government will continue to pursue such policies or that such policies
may not be significantly altered, especially in the event of a change in leadership, social or political disruption, or other
circumstances affecting the PRC&rsquo;s political, economic and social life.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>The
PRC laws and regulations governing our current business operations are sometimes vague and uncertain. Any changes in such PRC
laws and regulations may harm our business.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
PRC laws and regulations governing our current business operations are sometimes vague and uncertain. The PRC&rsquo;s legal system
is a civil law system based on written statutes, in which system decided legal cases have little value as precedents unlike the
common law system prevalent in the United States. There are substantial uncertainties regarding the interpretation and application
of PRC laws and regulations, including but not limited to the laws and regulations governing our business, the enforcement and
performance of our contractual arrangements with our affiliated Chinese entity, Dongfang Paper, and its shareholders, or the enforcement
and performance of our arrangements with customers in the event of the imposition of statutory liens, death, bankruptcy and criminal
proceedings. The Chinese government has been developing a comprehensive system of commercial laws, and considerable progress has
been made in introducing laws and regulations dealing with economic matters such as foreign investment, corporate organization
and governance, commerce, taxation and trade. However, because these laws and regulations are relatively new, and because of the
limited volume of published cases and judicial interpretation and their lack of force as precedents, interpretation and enforcement
of these laws and regulations involve significant uncertainties. New laws and regulations that affect existing and proposed future
businesses may also be applied retroactively. Our major operating entity, Dongfang Paper, conducts its operations in China, and
as a result, we are required to comply with PRC laws and regulations. We cannot assure you that our current ownership and operating
structure would not be found in violation of any current or future PRC laws or regulations. Any of these or similar actions could
significantly disrupt our business operations or restrict us from conducting a substantial portion of our business operations,
which could materially and adversely affect our business, financial condition and results of operations. We cannot predict what
effect the interpretation of existing or new PRC laws or regulations may have on our business. If the relevant authorities find
that we are in violation of PRC laws or regulations, they would have broad discretion in dealing with such a violation, including,
without limitation:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">levying fines;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">revoking Dongfang
    Paper&rsquo;s business and other licenses;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">requiring
    that we restructure our ownership or operations; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679; &nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">requiring
    that we discontinue any portion or all of our business. &nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Among
the material laws that we are subject to are the Price Law of The People&rsquo;s Republic of China, Measurement Law of The People&rsquo;s
Republic of China, Tax Law, Environmental Protection Law, Contract Law, Patent Law, Accounting Laws and Labor Law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>A
slowdown, inflation or other adverse developments in the PRC economy may harm our customers and the demand for our services and
products.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
of our operations are conducted in the PRC and all of our revenue is generated from sales in the PRC. Although the PRC economy
has grown significantly in recent years, we cannot assure you that this growth will continue. In 2018, China&rsquo;s Gross Domestic
Product (&ldquo;GDP&rdquo;) growth rate was 6.6% as compared to 6.9% in 2017. A slowdown in overall economic growth, an economic
downturn, a recession or other adverse economic developments in the PRC could significantly reduce the demand for our products
and harm our business. With the slowdown of GDP growth rate, sales revenue for our CMPand offset printing paper in 2018 decreased
by approximately 14.99% and 72.51%, respectively, as compared to 2017.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Additionally,
while the PRC economy has experienced rapid growth, such growth has been uneven among various sectors of the economy and in different
geographical areas of the country. Rapid economic growth could lead to growth in the money supply and rising inflation. If prices
for our products rise at a rate that is insufficient to compensate for the rise in the costs of supplies, it may harm our profitability.
In order to control inflation in the past, the PRC government has imposed controls on bank credit, limits on loans for fixed assets
and restrictions on state bank lending. Such an austere policy can lead to a slowing of economic growth.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Governmental
control of currency conversion may affect the value of your investment.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
PRC government imposes controls on the convertibility of Renminbi into foreign currencies and, in certain cases, the remittance
of currency out of the PRC. We receive substantially all of our revenue in Renminbi, which is currently not a freely convertible
currency. Shortages in the availability of foreign currency may restrict our ability to remit sufficient foreign currency to pay
dividends, or otherwise satisfy foreign currency denominated obligations. Under existing PRC foreign exchange regulations, payments
of current account items, including profit distributions, interest payments and expenditures from the transaction, can be made
in foreign currencies without prior approval from the PRC State Administration of Foreign Exchange by complying with certain procedural
requirements. However, approval from appropriate governmental authorities is required where Renminbi is to be converted into foreign
currency and remitted out of the PRC to pay capital expenses such as the repayment of bank loans denominated in foreign currencies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
PRC government may also in the future restrict access to foreign currencies for current account transactions. If the foreign exchange
control system prevents us from obtaining sufficient foreign currency to satisfy our currency demands, we may not be able to pay
certain of our expenses as they come due.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>The
fluctuation of the Renminbi may harm your investment.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
value of the Renminbi against the U.S. dollar and other currencies may fluctuate and is affected by, among other things, changes
in the PRC&rsquo;s political and economic conditions. According to the Bureau of the Fiscal Service, as of December 31, 2018,
$1 is converted into 6.8632 Yuan (RMB). As we rely entirely on revenues earned in the PRC, any significant revaluation of the
Renminbi may materially and adversely affect our cash flows, revenues and financial condition. For example, to the extent that
we need to convert U.S. dollars we receive from an offering of our securities into Renminbi for Dongfang Paper&rsquo;s operations,
appreciation of the Renminbi against the U.S. dollar would diminish the value of the proceeds of the offering and this could harm
our business, financial condition and results of operations because it would reduce the proceeds available to us for capital investment
in proportion to the appreciation of the Renminbi. Thus, if we raise 1,000,000 dollars and the Renminbi appreciates against the
U.S. dollar by 15%, then the proceeds will be worth only RMB5,833,720 as opposed to RMB 6,863,200 prior to the appreciation. Conversely,
if we decide to convert our Renminbi into U.S. dollars for the purpose of making payments for dividends on our common shares or
for other business purposes and the U.S. dollar appreciates against the Renminbi, the U.S. dollar equivalent of the Renminbi we
convert would be reduced in proportion to the amount the U.S. dollar appreciates. In addition, the depreciation of significant
RMB denominated assets could result in a charge to our income statement and a reduction in the dollar value of these assets. Thus,
if Dongfang Paper has RMB1,000,000 in assets and Renminbi is depreciated against the U.S. dollar by 15%, then the assets will
be valued at $123,849 as opposed to $145,705 prior to the depreciation.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
July 21, 2005, the PRC government changed its decade-old policy of pegging the value of the Renminbi to the U.S. dollar. Under
the new policy, the Renminbi is permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies.
This change in policy has resulted in an approximately 5.15% depreciation of the Renminbi against the U.S. dollar as of December
31, 2018. While the international reaction to the Renminbi revaluation has generally been positive, there remains significant
international pressure on the PRC government to adopt an even more flexible currency policy, which could result in a further and
more significant appreciation of the Renminbi against the U.S. dollar.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Failure
to comply with PRC regulations relating to the establishment of offshore special purpose companies by PRC residents may materially
adversely affect us.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
PRC State Administration of Foreign Exchange, or SAFE, has promulgated regulations, including the Notice on Relevant Issues Relating
to Domestic Residents&rsquo; Investment and Financing and Round-Trip Investment through Special Purpose Vehicles, or SAFE Circular
No. 37, effective on July 14, 2014, and its appendixes, that require PRC residents, including PRC institutions and individuals,
to register with local branches of the SAFE in connection with their direct establishment or indirect control of an offshore entity,
for the purpose of overseas investment and financing, with such PRC residents&rsquo; legally owned assets or equity interests
in domestic enterprises or offshore assets or interests, referred to in SAFE Circular No. 37 as a &ldquo;special purpose vehicle.&rdquo;
SAFE Circular No. 37 further requires amendment to the registration in the event of any significant changes with respect to the
special purpose vehicle, such as increase or decrease of capital contributed by PRC individuals, share transfer or exchange, merger,
division or other material event. In the event that a PRC shareholder holding interests in a special purpose vehicle fails to
fulfill the required SAFE registration, the PRC subsidiaries of that special purpose vehicle may be prohibited from making profit
distributions to the offshore parent and from carrying out subsequent cross-border foreign exchange activities, and the special
purpose vehicle may be restricted in their ability to contribute additional capital into its PRC subsidiary. Further, failure
to comply with the various SAFE registration requirements described above could result in liability under PRC law for foreign
exchange evasion.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
of uncertainty over the interpretation of Circular 37, we cannot assure you that, if challenged by government agencies, the structure
of our organization has fully complied with all applicable registrations or approvals required by Circular 37. Moreover, because
of uncertainty over how Circular 37 will be interpreted and implemented, and how or whether SAFE will apply it to us, we cannot
predict how it will affect our business operations or future strategies. A failure by such PRC resident beneficial holders or
future PRC resident stockholders to comply with Circular 37 , if SAFE requires it, could subject these PRC resident beneficial
holders to fines or legal sanctions, restrict our overseas or cross-border investment activities, limit our subsidiaries&rsquo;
ability to make distributions or pay dividends or affect our ownership structure, which could adversely affect our business and
prospects.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>The
PRC&rsquo;s legal and judicial system may not adequately protect our business and operations and the rights of foreign investors.</I></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
PRC legal and judicial system may negatively impact foreign investors. In 1982, the National People&rsquo;s Congress amended the
Constitution of China to authorize foreign investment and guarantee the &ldquo;lawful rights and interests&rdquo; of foreign investors
in the PRC. However, the PRC&rsquo;s system of laws is not yet comprehensive. The legal and judicial systems in the PRC are still
rudimentary, and enforcement of existing laws is inconsistent. Many judges in the PRC lack the depth of legal training and experience
that would be expected of a judge in a more developed country. Because the PRC judiciary is relatively inexperienced in enforcing
the laws that do exist, anticipation of judicial decision-making is more uncertain than would be expected in a more developed
country. It may be impossible to obtain swift and equitable enforcement of laws that do exist, or to obtain enforcement of the
judgment of one court by a court of another jurisdiction. The PRC&rsquo;s legal system is based on the civil law regime, that
is, it is based on written statutes; a decision by one judge does not set a legal precedent that is required to be followed by
judges in other cases. In addition, the interpretation of Chinese laws may be varied to reflect domestic political changes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
trend of legislation over the last 20 years has significantly enhanced the protection of foreign investment and allowed for more
control by foreign parties of their investments in Chinese enterprises. However, the promulgation of new laws, changes to existing
laws and the pre-emption of local regulations by national laws may adversely affect foreign investors. A change in leadership,
social or political disruption, or unforeseen circumstances affecting the PRC&rsquo;s political, economic or social life, may
affect the PRC government&rsquo;s ability to continue to support and pursue these reforms. Such a shift could have a material
adverse effect on our business and prospects.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
practical effect of the PRC legal system on our business operations in the PRC can be viewed from two separate but intertwined
considerations. First, as a matter of substantive law, the foreign invested enterprise laws provide significant protection from
government interference. In addition, these laws guarantee the full enjoyment of the benefits of corporate articles and contracts
to foreign invested enterprise participants. These laws, however, do impose standards concerning corporate formation and governance,
which are qualitatively different from the general corporation laws of the United States. Similarly, the PRC accounting laws mandate
accounting practices, which are not consistent with U.S. generally accepted accounting principles. PRC&rsquo;s accounting laws
require that an annual &ldquo;statutory audit&rdquo; be performed in accordance with PRC accounting standards and that the books
of account of foreign invested enterprises are maintained in accordance with Chinese accounting laws. Article 14 of the People&rsquo;s
Republic of China Wholly Foreign-Owned Enterprise Law requires a wholly foreign-owned enterprise to submit certain periodic fiscal
reports and statements to designated financial and tax authorities, at the risk of business license revocation. While the enforcement
of substantive rights may appear less clear than United States procedures, foreign invested enterprises and wholly foreign-owned
enterprises are Chinese registered companies, which enjoy the same status as other Chinese registered companies in business-to-business
dispute resolution. Any award rendered by an arbitration tribunal is enforceable in accordance with the United Nations Convention
on the Recognition and Enforcement of Foreign Arbitral Awards (1958). Therefore, as a practical matter, although no assurances
can be given, the Chinese legal infrastructure, while different in operation from its United States counterpart, should not present
any significant impediment to the operation of foreign invested enterprises.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Because
our principal assets are located outside of the United States and most of our directors and officers reside outside of the United
States, it may be difficult for you to enforce your rights based on U.S. federal securities laws against us and our officers or
to enforce U.S. court judgment against us or them in the PRC.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
of our directors and officers reside outside the United States. In addition, our operating company is located in the PRC and substantially
all of our assets are located outside of the United States. It may therefore be difficult for investors in the United States to
enforce their legal rights based on the civil liability provisions of the U.S. Federal securities laws against us in the courts
of either the U.S. or the PRC and, even if civil judgments are obtained in U.S. courts, to enforce such judgments in PRC courts.
Further, it is unclear if extradition treaties now in effect between the United States and the PRC would permit effective enforcement
against us or our officers and directors of criminal penalties, under the U.S. Federal securities laws or otherwise.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
may be required to broaden the coverage of the mandatory social security insurance programs under the Labor Law of the PRC.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
PRC Labor Law, effective January 1, 2008, requires that employers enroll in the following social security insurance programs and
offer certain employer-sponsored premium benefits to eligible employees: (1) retirement endowment, (2) healthcare insurance, (3)
unemployment insurance, (4) workers&rsquo; compensation insurance, and (5) pregnancy insurance. Of these insurance programs, the
retirement endowment fund requires employee withholdings of 4% to 8% of the gross compensation, while the employer&rsquo;s matching
contribution varies from 16% to 20% of such compensation. While the Company is enrolled in the retirement endowment fund and is
withholding employees&rsquo; portion and the employer&rsquo;s portion of the endowment contribution, many of the Company&rsquo;s
employees have elected to waive their coverage under these mandatory social security insurance programs in favor of certain other
low-cost, local government-sponsored social security insurance programs for residents in non-urban districts. Although we have
verified with the local government agencies for the validity of the employee waivers and reasonably believe that we are not required
to cover the employees who waived the benefits, the local government may change its policy and ask us to broaden our insurance
coverage to those who have specifically waived their rights.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Risks
Related to Our Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
officers and directors control us through their positions and stock ownership and their interests may differ from other stockholders.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, there were 22,022,316 shares of our common stock issued and outstanding. Mr. Zhenyong Liu, our Chief Executive
Officer, beneficially owns approximately 24.93% of our common stock. As a result, he is able to influence the outcome of stockholder
votes on various matters, including the election of directors and extraordinary corporate transactions including business combinations.
Yet Mr. Liu&rsquo;s interests may differ from those of other stockholders. Furthermore, ownership of 24.93% of our common stock
by Mr. Liu reduces the public float and liquidity, and may affect the market price, of our common stock as traded on the NYSE
MKT.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We
may not continue to pay cash dividends and any return on investment may be limited to the value of our common stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">While
we intend to retain the majority of any future earnings for use in the operation and expansion of our business, we did declare
four quarterly cash dividends in April 2012 and November 2013. Although it is likely that our Board of Directors will continue
the quarterly cash dividend as a regular dividend policy in the coming years, there is no guarantee that the cash dividend will
not be discontinued or reduced. Should we decide to continue the cash dividend, as a holding company, our ability to pay dividends
and meet other obligations depends upon the receipt of dividends or other payments from our operating subsidiaries. In addition,
our operating subsidiaries, from time to time, may be subject to restrictions on their ability to make distributions to us, including
restrictions on the conversion of local currency into U.S. dollars or other hard currency and other regulatory restrictions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>If
we fail to comply with Section 404 of the Sarbanes-Oxley Act of 2002 in a timely manner, our business could be harmed and our
stock price could decline.</I></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rules
adopted by the SEC pursuant to Section 404 of the Sarbanes-Oxley Act of 2002 require annual assessment of U.S. public companies&rsquo;
internal control over financial reporting. The standards that must be met for management to assess the internal control over financial
reporting as effective are complex, and require significant documentation, testing and possible remediation to meet the detailed
standards. While we have not detected any significant deficiency or material weakness in our internal control and with respect
to the assessment of the internal control for the year ended December 31, 2018, we cannot guarantee the implementation of controls
and procedures in future years to be without any significant deficiency or material weakness.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Our
common stock may be affected by limited trading volume and may fluctuate significantly.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
common stock is traded on the NYSE MKT. Although a trading market has developed for our common stock, there can be no assurance
that the trading market for our common stock will be sustained. Failure to maintain a trading market for our common stock may
adversely affect our shareholders&rsquo; ability to sell our common stock in short time periods, or at all. Our common stock has
experienced, and may experience in the future, significant price and volume fluctuations, which could adversely affect the market
price of our common stock.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Future
financings may dilute stockholders or impair our financial condition.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the future, we may need to raise additional funds through public or private financing, which might include the sale of equity
securities. The issuance of equity securities could result in financial and voting dilution to our existing stockholders. The
issuance of debt could result in effective subordination of stockholders&rsquo; interests to the debt, create the possibility
of default, and limit our financial and business alternatives.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_004"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
1B. Unresolved Staff Comments</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_005"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
2. Properties</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
headquarters are located at Hebei Baoding Dongfang Paper Milling Company Limited, Juli Road, Xushui District, Baoding City, Hebei
Province, China. We have two main production bases, one production base located approximately 4 kilometers away from our headquarters,
and the second production base located in Wei County, Xingtai City, Hebei province.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
land in the PRC is owned by the government and cannot be sold to any individual or entity. Instead, the government grants landholders
a &ldquo;land use right&rdquo; after a purchase price for such &ldquo;land use right&rdquo; is paid to the government. The &ldquo;land
use right&rdquo; allows the holder the right to use the land for a specified long-term period of time and enjoys all the incidents
of ownership of the land. The following are the details regarding&nbsp;Dongfang Paper&rsquo;s land use rights with regard to the
land that&nbsp;it uses in&nbsp;its business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
land of our first production base (the &ldquo;Xushui Paper Mill&rdquo;), comprising 200 mu, or approximately 33 acres, of land,
is leased from the local government pursuant to a 30 year lease that expires December 31, 2031. &nbsp;The lease requires an annual
payment of approximately $ 18,089 (RMB 120,000) due by June 30 every year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
land of the second production base (the &ldquo;Xingtai Paper Mill&rdquo;), comprising 300 mu, or approximately 50 acres, of land,
is leased from Hebei Tengsheng Paper Co., Ltd. pursuant to a 15 year lease that expires November 27, 2027. &nbsp;The lease requires
an annual payment of approximately $542,675 (RMB 3,600,000) due by November 27 every year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
office building and essentially all industrial-use buildings at our headquarters (the &ldquo;Industrial Buildings&rdquo;) are
leased to us by a related party Hebei Fangsheng Real Estate Development Co. Ltd. (&ldquo;Hebei Fangsheng&rdquo;), for a term of
up to three years starting August 2013, with an annual rental payment of approximately $150,745 (RMB1,000,000). The lease agreement
expired in August 2016. On August 9, 2016 and August 6, 2018, the Company entered into a supplementary agreement with Hebei Fangsheng,
who agreed to extend the lease term for another two years, with the same rental payment as original lease agreement. See &ldquo;Item
13. Certain Relationships and Related Transactions, and Director Independence - Sale of Headquarters Real Properties to a Related
Party.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the spring of 2010, we initiated the process of acquiring approximately 667,000 square meters of land adjacent to our first production
base, Xushui Paper Mill and have received governmental approval for our capacity expansion plan. On April 13, 2012, we closed
our acquisition of 58,566 square meters of land and secured all associated land use right permits (the &ldquo;Xushui Mill Annex&rdquo;).
For land acquisition of the Xushui Mill Annex, we paid a total of $7.5 million for various payments of compensation, taxes, and
recording fees to the sellers and the local government. On October 26, 2012, we made a prepayment in the amount of $1,404,460
for the purchase of land use right from the local residents&rsquo; council for approximately 65,023 square meters of land located
inside of our Xushui Paper Mill. In December 2016, the Company completed the purchase of such land use right, with a land use
term of 50 years expiring in 2066.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, our facilities include a total of 9 production lines, among which PM7 is currently idle and under renovation,
and PM4 and PM5 (both for digital photo paper) has been suspended, nine warehouses, two office buildings, two cafeterias, and
five dormitories.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_006"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
3. Legal Proceedings</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_007"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
4. Mine Safety Disclosures</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Not
Applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a_008"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PART
II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_009"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
5. Market for Registrant&rsquo;s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Market
Information</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging&rsquo;s common stock is traded on the NYSE MKT exchange under the symbol &ldquo;ITP&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of March 7, 2019, we had approximately 3,100 shareholders of record of our common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Dividends</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
November 21, 2013, the Company declared another quarterly dividend of $0.005 per share to shareholders of record as of November
29, 2013. The dividend was paid on December 10, 2013. Total dividends declared and paid for the year ended December 31, 2013 were
$323,032.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not expect to pay dividends in the near future. Future declaration of dividends will depend on, among other things, the Company&rsquo;s
results of operations, capital requirements, financial condition and on such other factors as the Company&rsquo;s Board of Directors
may in its discretion consider relevant and in the best long term interest of the shareholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Equity
Compensation Plan Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 28, 2011, the Company&rsquo;s Annual General Meeting approved the 2011 Incentive Stock Plan (the &ldquo;2011 ISP&rdquo;)
as previously adopted by the Board of Directors on July 5, 2011. Under the 2011 ISP, the Company may grant an aggregate of 375,000
shares of the Company&rsquo;s common stock to the Company&rsquo;s directors, officers, employees or consultants. Specifically,
the Board and/or the Compensation Committee have authority to (a) grant, in its discretion, Incentive Stock Options or Non-statutory
Options, Stock Awards or Restricted Stock Purchase Offers; (b) determine in good faith the fair market value of the stock covered
by any grant; (c) determine which eligible persons shall receive grants and the number of shares, restrictions, terms and conditions
to be included in such grants; and (d) make all other determinations necessary or advisable for the 2011 ISP&rsquo;s administration.
On January 11, 2012, the Compensation Committee granted 109,584 shares of restricted common stock to certain officers and directors
of the Company. On December 31, 2013, the Compensation Committee granted remaining 265,416 shares of restricted common stock to
39 recipients who are employees, officers and directors of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
September 10, 2012, the Company&rsquo;s Annual General Meeting approved the 2012 Incentive Stock Plan (the &ldquo;2012 ISP&rdquo;).
Under the 2012 ISP, the Company may grant an aggregate of 200,000 shares of the Company&rsquo;s common stock to the Company&rsquo;s
directors, officers, employees or consultants. Specifically, the Board and/or the Compensation Committee have authority to (a)
grant, in its discretion, Incentive Stock Options or Non-statutory Options, Stock Awards or Restricted Stock Purchase Offers;
(b) determine in good faith the fair market value of the stock covered by any grant; (c) determine which eligible persons shall
receive grants and the number of shares, restrictions, terms and conditions to be included in such grants; and (d) make all other
determinations necessary or advisable for the 2012 ISP&rsquo;s administration. On December 31, 2013, the Compensation Committee
granted 31,584 shares of restricted common stock under the 2012 ISP to 39 recipients who are employees, officers and directors
of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 29, 2015, the Company&rsquo;s Annual General Meeting approved the 2015 Omnibus Equity Incentive Plan (the &ldquo;2015 ISP&rdquo;).
Under the 2015 ISP, the Company may grant an aggregate of 1,500,000 shares of the Company&rsquo;s common stock to the directors,
officers, employees and/or consultants of the Company and its subsidiaries. The 2015 ISP provides for the granting of non-qualified
stock options, incentive stock options, restricted stock awards, restricted stock unit awards, stock appreciation rights, performance
stock awards, performance unit awards, unrestricted stock awards, distribution equivalent rights or any combination of the foregoing.
The 2015 ISP is administered by the Compensation Committee of the Board of Directors. Subject to the provisions of the 2015 ISP,
the Compensation Committee has the sole authority, in its discretion, to make all determinations under the plan, including but
not limited to (i) determining which employees, directors or consultants shall receive an award, (ii) the time or times when an
award shall be made, (iii) what type of award shall be granted, (iv) the term of an award, (v) the date or dates on which an award
vests, (vi) the form of any payment to be made pursuant to an award, (vii) the terms and conditions of an award, (viii) the restrictions
under a restricted stock award, (ix) the number of shares which may be issued under an award, (x) performance goals applicable
to any award and certification of the achievement of such goals, and (xi) the waiver of any restrictions or performance goals,
subject in all cases to compliance with applicable laws. On January 12, 2016, the Company granted an aggregate of 1,133,916 shares
of common stock under its compensatory incentive plans to nine officers, directors and employees of and a consultant when the
stock was at $1.25 per share, as compensation for their services in the past years, of which 168,416 shares of common stock were
granted under the 2012 Incentive Stock Plan and 965,500 shares were granted under the 2015 Omnibus Equity Incentive. On September
13, 2018, the compensation committee granted an aggregate of 534,500 shares of common stock to fifteen officers, directors and
employees of the Company, which were granted under the 2015 Omnibus Equity Incentive Plan. Total fair value of the shares of common
stock granted was calculated at $470,360 as of the date of issuance at $0.88 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
shares of common stock under the 2011, 2012 and 2015 ISPs, including shares originally authorized by equity holders and shares
remaining for future issuance as of December 31, 2018, has been issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Recent
Sales of Unregistered Securities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Purchases
of Equity Securities by the Issuer and Affiliated Purchasers</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_010"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
6. Selected Financial Data</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
selected financial data set forth below is derived from the consolidated financial statements of the Company. The selected consolidated
statements of income and comprehensive income data for the years ended December 31, 2017 and 2018, and the selected consolidated
balance sheet data as of December 31, 2017 and 2018 have been derived from our audited consolidated financial statements included
elsewhere in this annual report. Our selected consolidated statements of income and comprehensive income data for the year ended
December 31, 2014, 2015 and 2016 and the selected consolidated balance sheet data as of December 31, 2014, 2015 and 2016 have
been derived from our audited consolidated financial statements not included in this annual report. Our historical results do
not necessarily indicate results expected for any future periods. The selected consolidated financial data below should be read
in conjunction with &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;,
the consolidated financial statements and notes thereto and the other information contained in this Form 10-K. The financial information
has been prepared in accordance with U.S. GAAP. All financial information referred to herein is expressed in U.S. dollars unless
otherwise noted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="18" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Year
    Ended December 31,</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2018</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2017</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2016</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2015</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>2014</B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(in
    thousands, except per share data)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">CONSOLIDATED
    STATEMENTS OF INCOME AND COMPREHENSIVE INCOME DATA</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 45%; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenues</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 8%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">86,747</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 8%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">117,024</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 8%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">134,745</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 8%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">135,303</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 8%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">137,041</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
    profit</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,820</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">19,956</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">25,532</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">27,861</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">22,778</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Selling,
    general and administrative expenses</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">13,098</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,307</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,402</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">9,664</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,859</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gain
    (Loss) from impairment and disposal of property, plant and equipment</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3,904</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3,968</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(178</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(710</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gain
    from disposal of assets held for sale (1)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">204</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Income
    from operations</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(11,182</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,680</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,952</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">18,197</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">17,413</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Depreciation</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">14,291</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">14,634</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,288</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">13,399</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,289</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest
    expense</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,492</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,434</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,621</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,158</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,446</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    (Loss) Income</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10,546</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,660</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,313</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,542</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,706</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Basic
    and Diluted (Losses) Earnings per Share</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.49</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.16</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.34</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.57</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.61</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">CONSOLIDATED
    BALANCE SHEETS DATA</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash
    and bank balances</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,475</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,896</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,333</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,642</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,891</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts
    receivable, net</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,877</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,844</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,894</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,904</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,730</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inventories</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,924</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,474</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,632</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">9,205</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,140</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Property,
    plant, and equipment, net</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">167,830</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">189,389</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">187,690</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">206,191</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">208,213</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    assets</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">203,076</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">218,989</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">208,378</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">238,627</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">239,768</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    liabilities</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,526</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">33,664</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">35,622</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">62,817</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">64,822</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    stockholders&rsquo; equity</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">166,550</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">185,325</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">172,755</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">175,809</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">174,945</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         gain from disposal of assets held for sale in 2014 was related to the gain from sales
                                         of three employee dormitory buildings previously classified as assets held for sale to
                                         a related party controlled by our Chairman and Chief Executive Officer Mr. Zhenyong Liu.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_011"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
7. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following discussion of the financial condition and results of operations of the Company should be read in conjunction with the
selected financial data, the financial statements, and the notes to those statements that are included elsewhere in this annual
report.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Results
of Operations</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue
for the year ended December 31, 2018 was $86,746,758, a decrease of $30,276,820, or 25.87%, from $117,023,578 for the previous
year.&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Revenue
of Offset Printing Paper, Corrugating Medium Paper and Tissue Paper Products</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue
from sales of offset printing paper, CMP and tissue paper products for the year ended December 31, 2018 was $86,733,136, a decrease
of $30,290,442, or 25.88%, from $117,023,578 for the year ended December 31, 2017. This was mainly due to the decrease in sales
volume of Regular CMP and offset printing paper, which was partially offset by the increase in ASP of these products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
quantities of offset printing paper, CMP and tissue paper products sold during the year ended December 31, 2018 amounted to 156,849
tonnes, a decrease of 78,654 tonnes, or 33.40%, compared to 235,503 tonnes sold during the year ended December 31, 2017. Total
quantities of CMP and offset printing paper sold decreased by 76,850 tonnes in the year of 2018 as compared to 2017. Production
was suspended from late January 2018 to March 13, 2018 due to a government-mandated restriction on the natural gas supply. Production
of regular CMP was suspended in September 2018 due to equipment maintenance. Production of offset printing paper was suspended
from August 2018 to December 2018 due to equipment maintenance and restriction on production volume by the government due to environmental
concerns. As a result, the production and sales volume of regular CMP and offset printing paper decreased significantly in 2018
as compared to year of 2017.The changes in revenue and quantity sold for the year ended December 31, 2018 and 2017 are summarized
as follows: &#9;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Percentage</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31, 2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31, 2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Change
    in</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Change</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Sales
    Revenue</B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quantity
    (Tonne)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quantity
    (Tonne)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quantity
    (Tonne)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quantity</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 28%; text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Regular
    CMP</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">116,012</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">63,199,071</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">173,399</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">80,378,784</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(57,387</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(17,179,713</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-33.10</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-21.37</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Light-Weight
    CMP</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">34,646</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">18,397,173</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">33,690</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,600,281</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">956</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,796,892</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.84</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">17.93</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    CMP</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">150,658</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">81,596,244</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">207,089</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">95,979,065</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(56,431</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(14,382,821</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-27.25</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-14.99</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Offset
    Printing Paper</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,191</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,136,892</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">26,610</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">18,687,657</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(20,419</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(13,550,765</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-76.73</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-72.51</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tissue
    Paper Products</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,804</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,356,856</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,804</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2,356,856</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-100.00</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-100.00</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    CMP, Offset Printing Paper and Tissue Paper Revenue</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">156,849</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">86,733,136</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">235,503</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">117,023,578</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(78,654</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(30,290,442</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-33.40</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-25.88</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Monthly
revenue (excluding revenue of digital photo paper and tissue paper products) for the 24 months ended December 31, 2018, are summarized
below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="img_05.jpg" ALT="" STYLE="width: 594px; height: 356px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
average selling price, or ASP, for our major products for the years ended December 31, 2018 and 2017 are summarized as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Offset
    Printing Paper ASP</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Regular
    CMP ASP</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Light-Weight
    CMP ASP</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tissue
    Paper Products ASP</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 52%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended December 31, 2017</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">702</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">464</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">463</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1306</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year Ended
    December 31, 2018</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">830</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">545</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">531</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Increase
    from comparable period in the previous year</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">128</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">81</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">68</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Increase
    by percentage</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">18.23</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">17.46</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">14.69</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following is a chart showing the month-by-month ASPs (excluding the ASPs of digital photo paper and tissue paper products) for
the 24 month period ended December 31, 2018:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img_06.jpg" ALT="" STYLE="width: 594px; height: 356px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Corrugating
Medium Paper</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue
from CMP amounted to $81,596,244 (94.08% of the total of the offset printing paper, CMP and tissue paper products revenues) for
the year ended December 31, 2018, representing a decrease of $14,382,821, or 14.99%, from $95,979,065 during 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
sold 150,658 tonnes of CMP in the year ended December 31, 2018 as compared to 207,089 tonnes in the year ended December 31, 2017,
representing a 27.25% decrease in quantity sold.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ASP
for regular CMP increased from $464/tonne in 2017 to $545/tonne in 2018, representing a 17.46% increase. ASP in RMB for regular
CMP in 2017 and 2018 was RMB3,125 and RMB3,614, respectively, representing a 15.65% increase. The quantity of regular CMP sold
decreased by 57,387 tonnes, from 173,399 tonnes in 2017 to 116,012 tonnes in 2018.&#9;&#9;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ASP
for light-weight CMP increased from $463/tonne in 2017 to $531/tonne in 2018, representing a $14.69% increase. ASP in RMB for
light-weight CMP in 2017 and 2018 was RMB3,122 and RMB3,523, respectively, representing a 12.84% increase. The quantity of light-weight
CMP sold increased by 956 tonnes, from 33,690 tonnes in 2017, to 34,646 tonnes in 2018.&#9;&#9;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
production was suspended in the first and third quarter and our production volume was also restricted temporarily by the government
due to environmental concerns. The government has been requiring outdated paper facilities to close since 2010 and is expected
to continue to force the closure of outdated facilities in the next few years. We estimate that the market demand and ASPs for
CMP and other packaging paper will be volatile in the 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
PM6 production line, which produces regular CMP, has a designated capacity of 360,000 tonnes /year. The utilization rates for
the year ended December 31, 2018 and 2017 were 32.54% and 48.01%, respectively, representing a decrease of 15.47%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quantities
sold for regular CMP that was produced by the PM6 production line from January 2017 to December 2018 are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="img_07.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Offset
Printing Paper</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue
from offset printing paper was $5,136,892 (5.92% of the total offset printing paper, CMP and tissue paper products revenues) for
the year ended December 31, 2018, representing a decrease of $13,550,765, or 72.51%, from $18,687,657 in 2017. We sold 6,191 tonnes
of offset printing paper in the year ended December 31, 2018, compared to 26,610 tonnes in 2017, a decrease of 20,419 tonnes,
or 76.73%. ASPs for offset printing paper in the year ended December 31, 2017 and 2018 was $702/tonne and $830/tonne, respectively,
representing a 18.23% increase.ASP in RMB for offset printing paper for the year ended December 31, 2017 and 2018 was RMB4,735
and RMB5,504, respectively, representing a 16.24% increase. We estimate that the market demand and ASP of offset printing paper
will be volatile in 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="margin-top: 0; margin-bottom: 0; font-family: Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Tissue
Paper&nbsp;Products</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
process base tissue paper purchased from a long-term supplier and produce finished tissue paper products, including toilet paper,
boxed and soft-packed tissues, handkerchief tissues and paper napkins, as well as bathroom and kitchen paper towels that are marketed
and sold under the Dongfang Paper brand. In December 2018, we completed the construction and installation and test of operation
of PM8 and announced the commercial launch of tissue paper production. We expect to commence the full operation of production
and sales of tissue paper products in year 2019.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Revenue
of Digital Photo Paper</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue
generated from selling digital photo paper were $13,622 for year 2018. In June 2016, we suspended the production of digital photo
paper due to low market demand for our products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Cost
of Sales</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
cost of sales for CMP, offset printing paper and tissue paper products in the year ended December 31, 2018 was $80,909,412, a
decrease of $16,158,215, or 16.65%, from $97,067,627 for the year ended December 31, 2017. This was mainly a result of the decrease
in volume sold, partially offset by increase in cost of recycled paper board and recycled white scrap paper. Cost of sales for
CMP was $75,811,876 for the year ended December 31, 2018, as compared to $79,411,534 in 2017. The decrease in the cost of sales
of $3,599,659 for CMP was mainly due to the decrease in the quantities of regular CMP sold, partially offset by the increase in
cost of recycled paper board and increase in sales volume of light-weighted CMP in the year of 2018. Average cost of sales per
tonne for CMP increased by 31.33%, from $383 for the year ended December 31, 2017, to $503 in 2018. The increase was mainly attributable
to the higher average unit purchase costs (net of applicable value added tax) of recycled paper board in 2018 as compared to 2017.
Cost of sales for offset printing paper was $5,097,537 for the year ended December 31, 2018, as compared to $15,451,146 in 2017.
Average cost of sales per tonne of offset printing paper increased by 41.65%, from $581 in the year ended December 31, 2017, to
$823 in 2018. The increase was mainly attributable to higher average unit purchase costs (net of applicable value added tax) of
recycled white scrap paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Changes
in cost of sales and cost per tonne by product for the year ended December 31, 2018 and 2017 are summarized below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31, 2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31, 2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Change
    in</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Change
    in percentage</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    of Sales</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    per Tonne</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    of Sales</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    per tonne</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    of Sales</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    per Tonne</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    of Sales</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cost
    per Tone</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Regular
    CMP</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">58,342,301</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">503</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">66,763,206</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">385</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(8,420,905</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">118</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-12.61</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">30.65</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Light-Weight
    CMP</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">17,469,575</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">504</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,648,328</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">375</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,821,247</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">129</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">38.12</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">34.40</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    CMP</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,811,876</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">503</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">79,411,534</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">383</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3,599,659</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">120</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-4.53</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">31.33</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Offset
    Printing Paper</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,097,537</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">823</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,451,146</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">581</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10,353,609</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">242</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-67.01</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">41.65</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tissue
    Paper Products</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,204,947</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,222</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2,204,947</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,222</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-100.00</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-100.00</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    CMP, Offset Printing Paper and Tissue Paper Revenue</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">80,909,412</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$
                                         n/a</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">97,067,627</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$
                                         n/a</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(16,158,215</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">$
                                         n/a</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-16.65</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">n/a
                                         %</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
average unit purchase costs (net of applicable value added tax) of recycled paper board and recycled white scrap paper for the
year ended December 31, 2018 were RMB 2,079/tonne (approximately $313/tonne) and RMB 3,013/tonne (approximately $454/tonne), respectively,
as compared to RMB 1,655/tonne (approximately $245/tonne) and RMB 2,848/tonne (approximately 422/tonne) for the year ended December
31, 2017, respectively. These changes (in US dollars) represent a year-over-year increase of 27.76% for the recycled paper board
and a year-over-year increase of 7.58% for the recycled white scrap paper. We use domestic recycled paper (sourced mainly from
the Beijing-Tianjin metropolitan area) exclusively. Although we do not rely on imported recycled paper, the pricing of which tends
to be more volatile than domestic recycled paper, our experience suggests that the pricing of domestic recycled paper bears some
correlation to the pricing of imported recycled paper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
pricing trends of our major raw materials for the 24-month period from January 2017 to December 2018 are shown below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="img_08.jpg" ALT=""><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Electricity
and gas are our two main energy sources. In order to reduce carbon emissions, we had been required to reduce coal consumption
by the local government. After replacing all of the coal burning boilers with gas boilers, we stopped using coal in the fourth
quarter of 2017, which accounted for approximately 3% of total sales in 2017. Electricity and gas accounted for approximately
6% and 9.5% of total sales in 2018, respectively, compared to 7% and 4% of total sales 2017.The monthly energy cost (electricity,
coal and gas) as a percentage of total monthly sales of our main paper products for the 24 months ended December 31, 2018 are
summarized as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="img_09.jpg" ALT=""><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Gross
Profit</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit for December 31, 2018 was $5,820,401 (6.71% of the total revenue), representing a decrease of $14,135,550, or 70.83%, from
the gross profit of $19,955,951 (17.05% of the total revenue) for the year ended December 31, 2017. The decrease was mainly due
to (i) the decrease in quantities sold and (ii) the increase of material purchase price of CMP and offset printing paper, partially
offset by the increase of ASP of these products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Corrugating
Medium Paper, Offset Printing Paper and Tissue Paper Products</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit for offset printing paper, CMP and tissue paper products for the year ended December 31, 2018 was $5,823,724, a decrease
of $14,132,227, or 70.82%, from the gross profit of $19,955,951 for the year ended December 31, 2017. The decrease was mainly
the result of the factors discussed above.</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
overall gross profit margin for offset printing paper, CMP and tissue paper products decreased by 10.34 percentage points, from
17.05% for the year ended December 31, 2017, to 6.71% for the year ended December 31, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for regular CMP for the year ended December 31, 2018 was 7.68%, or 9.26 percentage points lower, as compared to
gross profit margin of 16.94% for the year ended December 31, 2017. Such decrease was primarily due to the increase of material
purchase price, partially offset by the increase in ASP of regular CMP.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for light-weight CMP for the year ended December 31, 2018 was 5.04%, or 13.88 percentage points lower, as compared
to gross profit margin of 18.92% for the year ended December 31, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for offset printing paper was 0.77% for the year ended December 31, 2018, a decrease of 16.55 percentage points,
as compared to 17.32% for the year ended December 31, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for tissue paper products was 0% for the year ended December 31, 2018, a decrease of 6.45 percentage points, as
compared to 6.45% for the year ended December 31, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Monthly
gross profit margins for our corrugating medium paper and offset printing paper for the 24-month period ended December 31, 2018
are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-indent: 0.5in"><IMG SRC="img_10.jpg" ALT=""><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Selling,
General and Administrative Expenses</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Selling,
general and administrative expenses for the year ended December 31, 2018 were $13,098,373, an increase of $1,790,978, or 15.84%
from $11,307,395 for the year ended December 31, 2017. The increase was mainly due to (i) compensation expenses resulting from
the issuance of 534,500 shares of common stock under our compensatory incentive plans in the year ended December 31, 2018, valued
at $470,360 and (ii) the depreciation of idle equipment during the suspension of production in the first quarter and third quarter
of 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>(Loss)
Income from Operations</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operating
loss for the year ended December 31, 2018 was $11,182,314, a decrease of $15,862,581, or 338.93%, from income from operations
of $4,680,267 for the year ended December 31, 2017. The decrease in operating income was primarily due to the decrease in
gross profit and increase in selling, general and administrative expenses. &#9;&#9;&#9;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<U>Other
Income and Expenses</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest
expense for the year ended December 31, 2018 decreased by $941,651, from $2,433,770 in the year ended December 31, 2017, to $1,492,119.
The Company had short-term and long-term interest-bearing loans and related party loans that aggregated $21,185,452 as of December
31, 2018, as compared to $25,466,009 as of December 31, 2017.&#9;&#9;&#9;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Net
(Loss) Income</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
a result of the above, net loss was $10,545,684 for the year ended December 31, 2018, representing a decrease of $12,205,472, or 735.36%, from net income of $1,659,788 for year ended December 31, 2017.&#9;&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<U>Accounts
Receivable</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
accounts receivable increased by $1,032,950, or 56.03%, to $2,876,632 as of December 31, 2018, as compared with $1,843,682 as
of December 31, 2017. We usually collect accounts receivable within 30 days of delivery and completion of sales.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Inventories</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inventories
consist of raw materials (accounting for 46.37% of total value of inventory as of December 31, 2018) and finished goods. As of
December 31, 2018, the recorded value of inventory decreased by 65.50% to $2,923,516 from $8,474,165 as of December 31, 2017.
As of December 31, 2018, the inventory of recycled paper board, which is the main raw material for the production of CMP, was
$412,317, approximately $5,925,057, or 93.49%, lower than the balance as of December 31, 2017. Due to the volatility of recycled
paper board price, we reduced the Company&rsquo;s inventory of recycled paper board in December 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
summary of changes in major inventory items is as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">$<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">%<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Change</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Change</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Raw Materials</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 52%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Recycled
    paper board</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">412,317</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,337,374</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-5,925,057</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-93.49</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Recycled
    white scrap paper</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">611,861</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">862,734</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-250,873</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-29.08</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tissue
    base paper</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24,027</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">25,236</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-1,209</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-4.79</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Coal
    &amp; gas</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">167,230</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">71,674</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">95,556</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">133.32</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Digital
    photo base paper and other raw materials</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">140,268</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">191,419</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-51,151</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-26.72</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Raw Materials</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,355,703</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,488,437</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-6,132,734</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-81.90</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Finished
    Goods</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,567,813</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">985,728</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">582,085</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">59.05</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Totals</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,923,516</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,474,165</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-5,550,649</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-65.50</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Accounts
Payable and Notes Payable</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts
payable and notes payable was $4,271,670 as of December 31, 2018, a decrease of 2,272,672, or 34.73%, from $6,544,342 as of December
31, 2017. Accounts payable was $629,054 and $422,705 as of December 31, 2018 and December 31, 2017, respectively. We have been
relying on the bank acceptance notes issued under our credit facilities with Bank of Cangzhou to make the majority of our raw
materials payments to our vendors. Our notes payable to Bank of Cangzhou were $3,642,616 and $6,121,637 as of December 31, 2018
and December 31, 2017, respectively. We repaid the balance owed on the bank acceptance notes of $6,121,637 in January 2018. In
January 2018, Bank of Cangzhou issued bank acceptance notes on our behalf for $3,642,616, which we paid off in January 2019.&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Liquidity
and Capital Resources</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Overview</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, we had a net working capital deficit of $5,475,395, an increase of $3,704,659, from the net working capital
deficit of $1,770,736 at December 31, 2017. Total current assets as of December 31, 2018 amounted to $24,158,872. Substantially
all cash and cash equivalents are cash deposits in bank accounts. Restricted cash of $3,642,616 was included in our current assets
as of December 31, 2018. Restricted cash is deposited at the Bank of Cangzhou for purpose of securing the bank acceptance notes
from the bank. The acceptance notes was paid off in January 2019.&#9;&#9;&#9;&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current
liabilities as of December 31, 2018 totaled $29,634,267, an increase of $7,876,734, from the December 31, 2017 balance of $21,757,533.
We use bank acceptance notes, which are typically 6-to-12 month notes, to guarantee the payments to our vendors. Notes payable
was $3,642,616 as of December 31, 2018, representing a decrease of $2,479,021, or 40.50%, from $6,121,637 as of December 31, 2017.
Most of our current short-term bank loans are either revolving or term loans. We expect to renew these loans with the banks on
similar terms at or before maturity. All of our short-term loans (with the exception of the notes payable, which carry no interest
but require a deposit equal to a portion of the credit facilities at the issuing banks) have interest-only monthly payments, with
a balloon payment for the entire principal amount upon maturity of the loan. The long term loans from the credit union require
monthly and quarterly interest payments, with one large balloon payment upon maturity. &#9;&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
late January, 2018, the Company temporarily suspended its production due to a government-mandated restriction on the natural gas
supply. The Company resumed production on March 14, 2018. As a result, the Company incurred a net loss of $4.0 million in the
first quarter of 2018. As the production resumed, the net cash generated from operations for the nine months from April 2018 to
December 2018 was $14 million (cash-in) as compared to the net cash-out of $4.8 million in the first quarter of 2018. The management
expects that there will be sufficient and continuous cash-in from sales in the first half of year 2019 and the working capital
condition will be further improved. In the meantime, we also extended our long-term loans which were due in June and November
2018 for additional five years. Our ability to continue as a going concern is dependent upon obtaining the necessary financing
or negotiating the terms of the existing short-term and long term liabilities to meet our current and future liquidity needs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
loan-to-equity ratio was 12.72% as of December 31, 2018. Our debt-asset ratio (i.e. total liabilities divided by total assets)
was 17.99% as of December 31, 2018. The industry average of debt asset ratios in China for 2017 was 55.91%, according to the latest
industry report in 2018 provided by China Paper Association at http://www.chinappi.org. As long as we are able to manage our short-term
liquidity, we believe that our overall financial condition, compared to our Chinese peers, is reasonably healthy and should allow
us to further leverage our assets to obtain capital for future growth.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Renewal
of operating lease</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 7, 2013, the Company&rsquo;s Audit Committee and the Board of Directors approved the sale of the land use right of the
Headquarters Compound (the &ldquo;LUR&rdquo;), the office building and essentially all industrial-use buildings in the Headquarters
Compound (the &ldquo;Industrial Buildings&rdquo;), and three employee dormitory buildings located within the Headquarters Compound
(the &ldquo;Dormitories&rdquo;) to Hebei Fangsheng for cash prices of approximately $2.77 million, $1.15 million, and $4.31 million
respectively. In connection with the sale of the Industrial Buildings, Hebei Fangsheng agreed to lease the Industrial Buildings
back to the Company for its original use for a term of up to three years, with an annual rental payment of approximately $150,743
(RMB1,000,000). The lease agreement expired in August 2016. On August 6, 2016 and August 6, 2018, the Company entered into two
supplementary agreements with Hebei Fangsheng, who agreed to extend the lease term for another four years in total, with the same
rental payment as original lease agreement. The accrued rental owed to Hebei Fangsheng was approximately $203,188 and $60,378
which was recorded as part of the current liabilities as of December 31, 2018 and December 31, 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Capital
Expenditure Commitment as of December 31, 2018</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
finance our daily operations mainly by cash flows generated from our business operations and loans from banking institutions.
Major capital expenditures in year ended December 31, 2018 were primarily financed by cash from operations. As of December 31,
2018, we had approximately $2 million in capital expenditure commitments that were mainly related to improvement of Industrial
Buildings. These commitments are expected to be financed by bank loans and cash flows generated from our business operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Capital
Expenditures</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I><U>New
Production Lines at the Wei County Industrial Park</U></I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
November 2012, we entered into a 15-year land lease with a land investment company in Wei County for the purpose of developing
the 49.4 acres of land into the base of our next capacity expansion. In December 2012, we signed a contract with an equipment
contractor in Shanghai to build the first of our two tissue paper production lines in Wei County. The two production lines, each
having production capacity of 15,000 tonnes/year, will be designated as PM8 and PM9 upon completion. On December 14, 2018, the
Company announced the commercial launch of tissue paper production, following the completion of construction and equipment installation,
the receipt of proper approvals, including wastewater discharge permit, from local authorities, and the success of trial production
of PM8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
plan to build a second 15,000 tonnes/year tissue paper production line (designated as PM9) at an estimated cost of $7.8 million
in the next several months.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Relocation
of Digital Photo Paper PM4 and PM5 Production Lines</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
August 2015, we completed the relocation of our digital photo paper production lines (PM4 and PM5), as well as related chemical
and packaging equipment, from the workshops located in our Headquarters Compound to a new location that is across the street from
our Xushui Paper Mill, the Xushui Mill Annex. Total cost of the relocation of the PM4 and PM5 production lines and building construction
costs incurred was approximately $4.5 million.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
acquired the land use rights of the 58,566 square meters at Xushui Mill Annex for approximately $7.7 million in April 2012 and
constructed three industrial buildings for the digital photo paper operations, a dormitory for factory workers and offices to
hold our consolidated Xushui District operations. We completed the relocation and resumed commercial production of digital photo
paper at the new location in August 2015. In June 2016, we suspended the production of digital photo paper due to low market demand
for our products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Cash
,Cash Equivalents and restricted cash</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
cash, cash equivalents and restricted cash as of December 31, 2018 was $12,117,425, an increase of $3,099,998, from $9,017,427
as of December 31, 2017. The increase of cash and cash equivalents for the year ended December 31, 2018 was attributable to a
number of factors:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>i.
Net cash provided by operating activities</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
cash provided by operating activities was $9,790,713 for the year ended December 31, 2018. The balance represented a decrease
of cash of $8,361,075, or 46.06%, from $18,151,788 provided for the year ended December 31, 2017. Net loss for the year ended
December 31, 2018 was $10,545,684, representing a decrease of $12,205,472, or 735.36%, from a net income of $1,659,788 for the year
ended December 31, 2017. Changes in various asset and liability account balances throughout the year ended December 31, 2018 also
contributed to the net change in cash from operating activities in year ended December 31, 2018. Chief among such changes is the
increase of accounts receivable in the amount of $1,183,782 during the year of 2018 and the decrease of notes payable in the amount
of $2,261,147. There was also a decrease of $5,322,320 in the ending inventory balance as of December 31, 2018 (an increase to
net cash for the year ended December 31, 2018 cash flow purposes). In addition, the Company had non-cash expenses relating to
depreciation and amortization in the amount of $14,290,919. The Company also had a net increase of $5,726,546 in prepayment and
other current assets (a decrease to net cash) and a net increase of $7,022,025 in other payables and accrued liabilities and due
to related parties (an increase to net cash), as well as a decrease in income tax payable of $291,119 (a decrease to net cash)
during the year ended December 31, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<U>ii.
Net cash used in investing activities</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
incurred $2,198,852 in net cash expenditures for investing activities during the year ended December 31, 2018, as compared to
$9,321,636 for the year ended December 31, 2017. Expenditures in the year ended December 31, 2018 were for the progress payments
for the construction of our first tissue paper production line PM8 and related facilities, including three paper mill workshops
and maintenance workshops and four warehouses at the Wei County industrial park in Wei County, Hebei province.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>iii.
Net cash used in financing activities</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
cash used in financing activities was $3,165,607 for the year ended December 31, 2018, as compared to net cash used in financing
activities in the amount of $4,917,037 for the year ended December 31, 2017. The decrease was mainly attributable to the repayment
of capital lease obligation in 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Short-term
bank loans</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 64%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Industrial
    and Commercial Bank of China (&ldquo;ICBC&rdquo;) Loan 1</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,285,145</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">ICBC
    Loan 2</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,907,778</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bank of Cangzhou</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,099,662</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">ICBC
    Loan 3</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,079,730</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ICBC
    Loan 4</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,622,683</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    short-term bank loans</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,802,075</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,192,923</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 3%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as
    of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January
    8, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,907,778 as
    of December 31, 2017. The working capital loan is secured by the Company&rsquo;s land use right as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan was due and repaid on October
    12, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn
    on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per
    annum. The working capital loan is secured by the Company&rsquo;s land use right and guaranteed by the Company&rsquo;s CEO
    and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on
    January 3, 2019.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as
    of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 5.4% per annum. The loan was due and repaid on January
    28, 2019.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as
    of December 31, 2018. The working capital loan is secured by the Company&rsquo;s land use right as collateral for the benefit
    of the bank. The loan bears a fixed interest rate of 4.741% per annum. The loan will be due on November 26, 2019.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, there were guaranteed short-term borrowings of $11,802,075 and unsecured bank loans of $nil. As of December
31, 2017, there were guaranteed short-term borrowings of $7,192,923 and unsecured bank loans of $nil.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
average short-term borrowing rates for the years ended December 31, 2018 and 2017 were approximately 5.66% and 5.27%, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Long-term
loans from credit union</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, loans payable to Rural Credit Union of Xushui County, amounted to $7,197,808 and $7,560,221, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
April 16, 2014, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,
which is payable in various installments from June 21, 2014 to November 18, 2018. The loan is guaranteed by an independent third
party. Interest payment is due quarterly and bears the rate of 0.72% per month. On November 6, 2018, the loan was renewed for
additional 5 years and will be due and payable in various installments from December 21, 2018 to November 5, 2023. As of December
31, 2018 and 2017, total outstanding loan balance was $1,253,060 and $1,316,152, respectively, Out of the total outstanding loan
balance, current portion amounted were $nil and $1,316,152 as of December 31, 2018 and 2017, respectively, which are presented
as current liabilities in the consolidated balance sheet and the remaining balance of $1,253,060 and $nil are presented as non-current
liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
July 15, 2013, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,
which was originally due and payable in various installments from December 21, 2013 to July 26, 2018. On June 21, 2018, the loan
was extended for additional 5 years and will be due and payable in various installments from December 21, 2018 to June 20, 2023.
The loan is secured by certain of the Company&rsquo;s manufacturing equipment with net book value of $5,782,640 and $7,963,285
as of December 31, 2018 and 2017, respectively. Interest payment is due quarterly and bears a fixed rate of 0.72% per month. As
of December 31, 2018 and 2017, the total outstanding loan balance was $3,642,615 and $3,826,022, respectively. Out of the total
outstanding loan balance, current portion amounted were $nil and $3,826,022 as of December 31, 2018 and 2017, respectively, which
are presented as current liabilities in the consolidated balance sheet and the remaining balance of $3,642,615 and $nil are presented
as non-current liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
April 20, 2017, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 2 years,
which is due and payable in various installments from August 26, 2017 to April 19, 2019. The loan is guaranteed by Hebei Tengsheng
with its land use right pledged as collateral for the benefit of the bank. Interest payment is due quarterly and bears a fixed
rate of 0.6% per month. As of December 31, 2018 and December 31, 2017, the total outstanding loan balance was $2,302,133 and $2,418,047,
respectively. Out of the total outstanding loan balance, current portion amounted were $2,302,133 and $1,224,328 as of December
31, 2018 and December 31, 2017, respectively, which are presented as current liabilities in the consolidated balance sheet and
the remaining balance of $nil and $1,193,719 are presented as non-current liabilities in the consolidated balance sheet as of
September 30, 2018 and December 31, 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
interest expenses for the short-term bank loans and long-term loans for the years ended December 31, 2018 and 2017 were $1,214,708
and $1,196,814, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Shareholder
Loans</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr
Zhenyong Liu, the Company&rsquo;s CEO has loaned money to Dongfang Paper for working capital purposes over a period of time. On
January 1, 2013, Dongfang Paper and Mr. Zhenyong Liu renewed the three-year term loan previously entered on January 1, 2010, and
extended the maturity date further to December 31, 2015. On December 31, 2015, the Company paid off the loan of $2,249,279, together
with interest of $391,374 for the period from 2013 to 2015. Approximately $373,490 and $392,296 of interest were outstanding and
due to Mr. Zhenyong Liu, which were recorded in other payables and accrued liabilities as part of the current liabilities in the
consolidated balance sheet as of December 31, 2018 and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
December 10, 2014, Mr. Zhenyong Liu provided a loan to the Company, amounted to $8,742,278 to Dongfang Paper for working capital
purpose with an interest rate of 4.35% per annum, which was based on the primary lending rate of People&rsquo;s Bank of China.
The unsecured loan was provided on December 10, 2014, and would be originally due on December 10, 2017. During the year of 2016,
the Company repaid $6,012,416 to Mr. Zhenyong Liu, together with interest of $288,596. In February 2018, the Company repaid $3,014,863
to Mr. Zhenyong Liu, together with interest of $20,400. As of December 31, 2018 and 2017, the outstanding loan balance was $nil
and $3,060,818, respectively and the accrued interest was $43,711 and $45,912, respectively, which was recorded in other payables
and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
March 1, 2015, the Company entered an agreement with Mr. Zhenyong Liu which allows Dongfang Paper to borrow from the CEO an amount
up to approximately $17,484,555 (RMB120,000,000) for working capital purposes. The advances or funding under the agreement are
due three years from the date each amount is funded. The loan is unsecured and carries an annual interest rate set on the basis
of the primary lending rate of the People&rsquo;s Bank of China at the time of the borrowing. On July 13, 2015, an unsecured amount
of $4,324,636 was drawn from the facility. On October 14, 2016 an unsecured amount of $2,883,091 was drawn from the facility.
In February 2018, the Company repaid $1,507,432 to Mr. Zhenyong Liu. The loan would be originally due on July 12, 2018. Mr. Zhenyong
Liu agreed to extend the loan for additional 3 years and the remaining balance will be due on July 12, 2021. On November 23, 2018,
the Company repaid $3,768,579 to Mr. Zhenyong Liu, together with interest of $158,651. As of December 31, 2018 and 2017, the outstanding
loan balance were $2,185,569 and $7,652,047, respectively, and the accrued interest was $200,253 and $110,476, respectively, which
was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, total amount of loans due to Mr. Zhenyong Liu were $2,185,569 and $10,712,865, respectively. The
interest expense incurred for such related party loans are $277,411 and $451,626 for the years ended December 31, 2018 and 2017,
respectively. The accrued interest due to the CEO was approximately $617,454 and $548,684, as of December 31, 2018 and 2017, respectively,
which was recorded in other payables and accrued liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, amount due to shareholders are $210,148 and $nil, respectively, which represents funds from shareholders
to pay for various expenses incurred in the U.S. The amount is due on demand with interest free.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Critical
Accounting Policies and Estimates</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company&rsquo;s financial statements are prepared in accordance with accounting principles generally accepted in the United States,
which require us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during
the reporting periods. Management makes these estimates using the best information available at the time the estimates are made.
However, actual results could differ materially from those estimates. The most critical accounting policies are listed below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Revenue
Recognition Policy</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 14.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company recognizes revenue when goods are delivered and a formal arrangement exists, the price is fixed or determinable, the delivery
is completed, no other significant obligations of the Company exist, and collectability is reasonably assured. Goods are considered
delivered when the customer&rsquo;s truck picks up goods at our finished goods inventory warehouse.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Long-Lived
Assets</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 14.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 28.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company evaluates the recoverability of long-lived assets and the related estimated remaining useful lives when events or circumstances
lead management to believe that the carrying value of an asset may not be recoverable and the undiscounted cash flows estimated
to be generated by those assets are less than the assets&rsquo; carrying amount. In such circumstances, those assets are written
down to estimated fair value. Our judgments regarding the existence of impairment indicators are based on market conditions, assumptions
for operational performance of our businesses, and possible government policy toward operating efficiency of the Chinese paper
manufacturing industry. For the years ended December 31, 2018 and 2017, no events or circumstances occurred for which an evaluation
of the recoverability of long-lived assets was required. We are currently not aware of any events or circumstances that may indicate
any need to record such impairment in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Foreign
Currency Translation</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 14.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
functional currency of Dongfang Paper and Baoding Shengde is the Chinese Yuan Renminbi (&ldquo;RMB&rdquo;).&nbsp;&nbsp;Under ASC
Topic 830-30, all assets and liabilities are translated into United States dollars using the current exchange rate at the end
of each fiscal period. The current exchange rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese
RMB to the U.S. Dollars are 6.8632:1 and 6.5342:1, respectively. Revenues and expenses are translated using the prevailing average
exchange rates at 6.6338:1, and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively. Translation adjustments
are included in other comprehensive income (loss).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Off-Balance
Sheet Arrangements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
were the guarantor for Baoding Huanrun Trading Co., for its long-term bank loans in an amount of $4,516,843 (RMB31,000,000), which
matures at various times in 2023. Baoding Huanrun Trading Co. is one of our major suppliers of raw materials. This helps us to
maintain a good relationship with the supplier and negotiate for better terms in payment for materials. If Huanrun Trading Co.
were to become insolvent, the Company could be materially adversely affected. Except as aforesaid, we have no material off-balance
sheet transactions.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Recent
Accounting Pronouncements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
January 2016, the FASB issued ASU No. 2016-01, &ldquo;Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement
of Financial Assets and Financial Liabilities&rdquo; (&ldquo;ASU 2016-01&rdquo;). The amendments in this update require all equity
investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted
for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also
require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability
resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value
in accordance with the fair value option for financial instruments. In addition, the amendments in this update eliminate the requirement
to disclose the method(s) and significant assumptions used to estimate the fair value that are required to be disclosed for financial
instruments measured at amortized cost on the balance sheet for public entities. For public business entities, the amendments
in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal
years. Except for the early application guidance discussed in ASU 2016-01, early adoption of the amendments in this update is
not permitted. We do not expect the adoption of ASU 2016-01 to have a material impact on our condensed consolidated financial
statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
February 2016, the FASB issued ASU No. 2016-02, &ldquo;Leases (Topic 842)&rdquo; (&ldquo;ASU 2016-02&rdquo;). The amendments in
this update create Topic 842, Leases, and supersede the leases requirements in Topic 840, Leases. Topic 842 specifies the accounting
for leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information
to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The main difference
between Topic 842 and Topic 840 is the recognition of lease assets and lease liabilities for those leases classified as operating
leases under Topic 840. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria
for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing
between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance
leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive
income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in ASU 2016-02 are effective for
fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities.
Early application of the amendments in ASU 2016-02 is permitted. We are currently in the process of evaluating the impact of the
adoption of ASU 2016-02 on our condensed consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
June 2016, the FASB issued ASU No. 2016-13, &ldquo;Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses
on Financial Instruments&rdquo; (&ldquo;ASU 2016-13&rdquo;). Financial Instruments-Credit Losses (Topic 326) amends guidelines
on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at
amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an
entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that
is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale
debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit
losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net
investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities,
trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial
assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective
for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating
the impact of the adoption of ASU 2016-13 on our condensed consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_012"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;7A.
Quantitative and Qualitative Disclosures About Market Risk</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Foreign
Exchange Risk</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">While
our reporting currency is the US dollar, almost all of our consolidated revenues and consolidated costs and expenses are denominated
in RMB. All of our assets are denominated in RMB except for some cash and cash equivalents and accounts receivables. As a result,
we are exposed to foreign exchange risks as our revenues and results of operations may be affected by fluctuations in the exchange
rate between US dollar and RMB. If the RMB depreciates against the US dollar, the value of our RMB revenues, earnings and assets
as expressed in our US dollar financial statements will decline. We have not entered into any hedging transactions in an effort
to reduce our exposure to foreign exchange risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Inflation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we are generally able to pass along minor incremental cost inflation to our customers, inflation such as increases in the costs
of our products and overhead costs may adversely affect our operating results. We do not believe that inflation in China has had
a material impact on our financial position or results of operations to date, however, a high rate of inflation in the future
may have an adverse effect on our ability to maintain current levels of gross margin and selling and distribution, general and
administrative expenses as a percentage of net revenues if the selling prices of our products do not increase in line with the
increased costs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_013"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;8.
Financial Statements and Supplementary Data</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
audited financial statement for the fiscal year ended December 31, 2018 and 2017, together with the report of the independent
certified public accounting firms thereon and the notes thereto, are presented beginning at page F-1.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;<IMG SRC="logo_1.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.5in; text-align: left">To:</TD><TD STYLE="text-align: justify">The Board of Directors and Stockholders of</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">IT Tech Packaging, Inc.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying
consolidated balance sheets of IT Tech Packaging, Inc. (the Company) as of December 31, 2018 and 2017, and the related
consolidated statement of income and comprehensive income (loss), statement of changes in stockholders&rsquo; equity, and
cash flows for each of the two years in the period ended December 31, 2018, and the related notes (collectively referred to
as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the
financial position of the Company as of December 31, 2018 and 2017, and the results of its operations and its cash flows for
each of the two years in the period ended December 31, 2018, in conformity with accounting principles generally accepted in
the United States of America.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These financial statements are the responsibility
of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;s financial statements based
on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with
the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have,
nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required
to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the
effectiveness of the Company&rsquo;s internal control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our audits included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a
reasonable basis for our opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%; text-align: justify; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ WWC, P.C.</FONT></TD>
    <TD STYLE="width: 60%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WWC, P.C.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certified Public Accountants</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have served as the Company&rsquo;s auditor
since March 25, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">San Mateo, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">March 7, 2019</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;<IMG SRC="logo_2.jpg" ALT=""></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>


<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CONSOLIDATED
BALANCE SHEETS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>AS
OF DECEMBER 31, 2018 AND 2017</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">December&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">December&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center">ASSETS</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Current Assets</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt">Cash and bank balances</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">8,474,809</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">2,895,790</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,642,616</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,121,637</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Accounts receivable (net of allowance for doubtful accounts of $58,707 and $37,626 as of December 31, 2018 and December 2017, respectively)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,876,632</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,843,682</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,923,516</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,474,165</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Prepayments and other current assets</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">6,241,299</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">651,523</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,158,872</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,986,797</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Property, plant, and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">167,829,716</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">189,388,709</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Value-added tax recoverable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,810,331</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,041,416</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Deferred tax asset non-current</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">8,277,091</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">6,572,559</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total Assets</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">203,076,010</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">218,989,481</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: center; text-indent: -9pt; padding-left: 9pt">LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Current Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Short-term bank loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">11,802,075</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7,192,923</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Current portion of long-term loans from credit union</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,491,549</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,366,502</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">629,054</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">422,705</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,642,616</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,121,637</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Due to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">413,336</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60,378</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Accrued payroll and employee benefits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">213,536</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">231,247</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Other payables and accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,222,796</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">836,337</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Income taxes payable</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">219,305</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">525,804</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">29,634,267</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,757,533</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Loans from credit union</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,706,259</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,193,719</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Loans from a related party</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">2,185,569</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">10,712,865</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $34,008,908 and $31,235,520 as of December 31, 2018 and 2017, respectively)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">36,526,095</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">33,664,117</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Commitments and Contingencies</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Stockholders&rsquo; Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Common stock, 500,000,000 shares authorized, $0.001 par value per share, 20,022,316 and 21,450,316 shares issued and outstanding as of December 31, 2018 and 2017, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,360</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,450</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">51,137,319</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,635,243</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Statutory earnings reserve</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,080,574</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,080,574</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Accumulated other comprehensive (loss) income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,263,952</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,468,799</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Retained earnings</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">112,573,614</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">123,119,298</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">166,549,915</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">185,325,364</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total Liabilities and Stockholders&rsquo; Equity</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">203,076,010</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">218,989,481</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">See
accompanying notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CONSOLIDATED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FOR
THE YEARS ENDED DECEMBER 31, 2018 AND 2017</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%">Revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">86,746,758</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">117,023,578</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt">Cost of sales</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(80,926,357</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(97,067,627</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Gross Profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,820,401</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,955,951</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Selling, general and administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,098,373</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,307,395</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Loss from disposal of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,881</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,677,262</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Loss on impairment of assets</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(3,894,461</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(2,291,027</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">(Loss) Income from Operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,182,314</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,680,267</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Other Income (Expense):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,632</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,590</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Subsidy income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">241,189</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41,529</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Interest expense</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(1,492,119</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(2,433,770</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">(Loss) Income before Income Taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,396,612</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,322,616</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Provision for Income Taxes</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,850,928</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(662,828</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Net (Loss) Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,545,684</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,659,788</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Other Comprehensive (Loss) Income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Foreign currency translation adjustment</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(8,732,751</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">10,910,190</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">Total Comprehensive (Loss) Income</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(19,278,435</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">12,569,978</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">(Losses) Earnings Per Share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt">Basic and Diluted (Losses) Earnings per Share</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(0.49</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">0.08</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">Outstanding &ndash; Basic and Diluted</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">21,618,305</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">21,450,316</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">See
accompanying notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CONSOLIDATED
STATEMENTS OF CHANGES IN STOCKHOLDERS&rsquo; EQUITY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FOR
THE YEARS ENDED DECEMBER 31, 2018 AND 2017</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>Accumulated</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>Additional</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>Statutory</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; vertical-align: bottom"><B>Other</B></TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="6" STYLE="text-align: center; vertical-align: bottom; border-bottom: Black 1.5pt solid"><B>Common&nbsp;Stock</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; vertical-align: bottom"><B>Paid-in</B></TD><TD STYLE="font-weight: bold; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>Earnings</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>Comprehensive</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>Retained</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; vertical-align: bottom"><B>Shares</B></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: bottom"><B>Amount</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: bottom"><B>Capital</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; vertical-align: bottom"><B>Reserve</B></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: bottom"><B>Income (loss)</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; vertical-align: bottom"><B>Earnings</B></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid; vertical-align: bottom"><B>Total</B></TD><TD STYLE="padding-bottom: 1.5pt; text-align: center; vertical-align: bottom"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 16%; text-indent: -9pt; padding-left: 9pt">Balance at January 1, 2017</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">21,450,316</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">21,450</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">50,635,243</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">6,080,574</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">(5,441,391</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">121,459,510</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">172,755,386</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Foreign currency translation adjustment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,910,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,910,190</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Net income for the year of 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,659,788</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,659,788</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Balance at December 31, 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,450,316</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,450</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,635,243</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,080,574</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,468,799</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123,119,298</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">185,325,364</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Issuance of shares to officer and directors</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">534,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">535</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">469,826</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">470,361</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Issuance of shares to Weitian</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">375</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,250</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,625</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Foreign currency translation adjustment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,732,751</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(8,732,751</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Net loss for the year of 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,545,684</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(10,545,684</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Balance at December 31, 2018</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22,022,316</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">22,360</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">51,137,319</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,080,574</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(3,263,952</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">112,573,614</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">166,549,915</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">See
accompanying notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACACKING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CONSOLIDATED
STATEMENTS OF CASH FLOWS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>FOR
THE YEARS ENDED DECEMBER 31, 2018 AND 2017</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 30.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Cash Flows from Operating Activities:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%; text-align: left; text-indent: -9pt; padding-left: 9pt">Net income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">(10,545,684</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">1,659,788</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Adjustments to reconcile net income to net cash provided by operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,290,919</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,633,780</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Loss from disposal and impairment of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,524,581</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,968,289</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">(Recovery from) Allowance for bad debts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">23,676</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(45,309</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Share-based compensation expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">470,361</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Deferred tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,089,439</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,010,577</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Changes in operating assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,183,782</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,265,428</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Prepayments and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,726,546</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(79,264</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">Inventories</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,322,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,417,942</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">234,448</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(166,464</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Advance from customers</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29,663</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,261,147</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,707,933</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Due to related parties</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,743</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Accrued payroll and employee benefits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6,855</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,111</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Other payables and accrued liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,878,137</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,503,275</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Income taxes payable</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(291,119</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(839,047</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Net Cash Provided by Operating Activities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">9,790,613</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">18,151,788</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Cash Flows from Investing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Purchases of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,198,852</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,380,702</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Proceeds from sale of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">59,066</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Net Cash Used in Investing Activities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(2,198,852</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(9,321,636</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Cash Flows from Financing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Proceeds from related party loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,522,295</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Repayments of related party loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,813,169</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Proceeds from short term bank loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,210,196</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,903,609</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Repayment of bank loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,149,899</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,153,463</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Proceeds from credit union loans</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,064,970</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,373,077</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Payment of capital lease obligation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(9,040,260</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Net Cash Used in Financing Activities</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(3,165,607</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(4,917,037</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Effect of Exchange Rate Changes on Cash and Cash Equivalents</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(1,326,156</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">609,348</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Net Increase (Decrease) in Cash and Cash Equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,099,998</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,522,463</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Cash, Cash Equivalents and Restricted Cash - Beginning of Year</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">9,017,427</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">4,494,964</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Cash, Cash Equivalents and Restricted Cash - End of Year</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">12,117,425</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">9,017,427</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Supplemental Disclosure of Cash Flow Information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Cash paid for interest, net of capitalized interest cost</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">1,866,093</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">1,359,343</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Cash paid for income taxes</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">515,001</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">3,247,406</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Cash and bank balances</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,474,809</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,895,790</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Restricted cash</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">3,642,616</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">6,121,637</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total cash, cash equivalents and restricted cash shown in the statement of cash flows</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">12,117,425</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">9,017,427</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 30.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">See
accompanying notes to consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(1)
Organization and Business Background</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging, Inc. (the Company) was incorporated in the State of Nevada on December 9, 2005, under the name &ldquo;Carlateral,
Inc.&rdquo; Through the steps described immediately below, we became the holding company for Hebei Baoding Dongfang Paper Milling
Company Limited (&ldquo;Dongfang Paper&rdquo;), a producer and distributor of paper products in China, on October 29, 2007, and
effective December 21, 2007, we changed our name to &ldquo;Orient Paper, Inc.&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Effective
on August 1, 2018, we changed our corporate name to IT Tech Packaging, Inc.. The name change was effected through a parent/subsidiary
short-form merger of IT Tech Packaging, Inc., our wholly-owned Nevada subsidiary formed solely for the purpose of the name change,
with and into us. We were the surviving entity. In connection with the name change, our common stock began being traded under
a new NYSE symbol, &ldquo;ITP,&rdquo; and a new CUSIP number, 46527C100, at such time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
October 29, 2007, pursuant to an agreement and plan of merger (the &ldquo;Merger Agreement&rdquo;), the Company acquired Dongfang
Zhiye Holding Limited (&ldquo;Dongfang Holding&rdquo;), a corporation formed on November 13, 2006 under the laws of the British
Virgin Islands, and issued the shareholders of Dongfang Holding an aggregate of 7,450,497 (as adjusted for a four-for-one reverse
stock split effected in November 2009) shares of our common stock, which shares were distributed pro-rata to the shareholders
of Dongfang Holding in accordance with their respective ownership interests in Dongfang Holding. At the time of the Merger Agreement,
Dongfang Holding owned all of the issued and outstanding stock and ownership of Dongfang Paper and such shares of Dongfang Paper
were held in trust with Zhenyong Liu, Xiaodong Liu and Shuangxi Zhao, for Mr. Liu, Mr. Liu and Mr. Zhao (the original shareholders
of Dongfang Paper) to exercise control over the disposition of Dongfang Holding&rsquo;s shares in Dongfang Paper on Dongfang Holding&rsquo;s
behalf until Dongfang Holding successfully completed the change in registration of Dongfang Paper&rsquo;s capital with the relevant
PRC Administration of Industry and Commerce as the 100% owner of Dongfang Paper&rsquo;s shares. As a result of the merger transaction,
Dongfang Holding became a wholly owned subsidiary of the Company, and Dongfang Holding&rsquo;s wholly owned subsidiary, Dongfang
Paper, became an indirectly owned subsidiary of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Holding, as the 100% owner of Dongfang Paper, was unable to complete the registration of Dongfang Paper&rsquo;s capital under
its name within the proper time limits set forth under PRC law. In connection with the consummation of the restructuring transactions
described below, Dongfang Holding directed the trustees to return the shares of Dongfang Paper to their original shareholders,
and the original Dongfang Paper shareholders entered into certain agreements with Baoding Shengde Paper Co., Ltd. (&ldquo;Baoding
Shengde&rdquo;) to transfer the control of Dongfang Paper over to Baoding Shengde.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
June 24, 2009, the Company consummated a number of restructuring transactions pursuant to which it acquired all of the issued
and outstanding shares of Shengde Holdings Inc, a Nevada corporation. Shengde Holdings Inc was incorporated in the State of Nevada
on February 25, 2009. On June 1, 2009, Shengde Holdings Inc incorporated Baoding Shengde, a limited liability company organized
under the laws of the PRC. Because Baoding Shengde is a wholly-owned subsidiary of Shengde Holdings Inc, it is regarded as a wholly
foreign-owned entity under PRC law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
ensure proper compliance of the Company&rsquo;s control over the ownership and operations of Dongfang Paper with certain PRC regulations,
on June&nbsp;24, 2009, the Company entered into a series of contractual agreements (the &ldquo;Contractual Agreements&rdquo;)
with Dongfang Paper and Dongfang Paper Equity Owners via the Company&rsquo;s wholly owned subsidiary Shengde Holdings Inc (&ldquo;Shengde
Holdings&rdquo;) a Nevada corporation and Baoding Shengde Paper Co., Ltd. (&ldquo;Baoding Shengde&rdquo;), a wholly foreign-owned
enterprise in the PRC with an original registered capital of $10,000,000 (subsequently increased to $60,000,000 in June 2010).
Baoding Shengde is mainly engaged in production and distribution of digital photo paper and is 100% owned by Shengde Holdings.
Prior to February 10, 2010, the Contractual Agreements included (i) Exclusive Technical Service and Business Consulting Agreement,
which generally provides that Baoding Shengde shall provide exclusive technical, business and management consulting services to
Dongfang Paper, in exchange for service fees including a fee equivalent to 80% of Dongfang Paper&rsquo;s total annual net profits;
(ii) Loan Agreement, which provides that Baoding Shengde will make a loan in the aggregate principal amount of $10,000,000 to
Dongfang Paper Equity Owners in exchange for each such shareholder agreeing to contribute all of its proceeds from the loan to
the registered capital of Dongfang Paper; (iii) Call Option Agreement, which generally provides, among other things, that Dongfang
Paper Equity Owners irrevocably grant to Baoding Shengde an option to purchase all or part of each owner&rsquo;s equity interest
in Dongfang Paper. The exercise price for the options shall be RMB1 which Baoding Shengde should pay to each of Dongfang Paper
Equity Owner for all their equity interests in Dongfang Paper; (iv) Share Pledge Agreement, which provides that Dongfang Paper
Equity Owners will pledge all of their equity interests in Dongfang Paper to Baoding Shengde as security for their obligations
under the other agreements described in this section. Specifically, Baoding Shengde is entitled to dispose of the pledged equity
interests in the event that Dongfang Paper Equity Owners breach their obligations under the Loan Agreement or Dongfang Paper fails
to pay the service fees to Baoding Shengde pursuant to the Exclusive Technical Service and Business Consulting Agreement; and
(v) Proxy Agreement, which provides that Dongfang Paper Equity Owners shall irrevocably entrust a designee of Baoding Shengde
with such shareholder&rsquo;s voting rights and the right to represent such shareholder to exercise such owner&rsquo;s rights
at any equity owners&rsquo; meeting of Dongfang Paper or with respect to any equity owner action to be taken in accordance with
the laws and Dongfang Paper&rsquo;s Articles of Association. The terms of the agreement are binding on the parties for as long
as Dongfang Paper Equity Owners continue to hold any equity interest in Dongfang Paper. A Dongfang Paper Equity Owner will cease
to be a party to the agreement once it transfers its equity interests with the prior approval of Baoding Shengde. As the Company
had controlled Dongfang Paper since July 16, 2007 through Dongfang Holding and the trust until June 24, 2009, and continues to
control Dongfang Paper through Baoding Shengde and the Contractual Agreements, the execution of the Contractual Agreements is
considered as a business combination under common control.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
February 10, 2010, Baoding Shengde and the Dongfang Paper Equity Owners entered into a Termination of Loan Agreement to terminate
the above-mentioned $10,000,000 Loan Agreement. Because of the Company&rsquo;s decision to fund future business expansions through
Baoding Shengde instead of Dongfang Paper, the $10,000,000 loan contemplated was never made prior to the point of termination.
The parties believe the termination of the Loan Agreement does not in itself compromise the effective control of the Company over
Dongfang Paper and its businesses in the PRC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">An
agreement was also entered into among Baoding Shengde, Dongfang Paper and the Dongfang Paper Equity Owners on December 31, 2010,
reiterating that Baoding Shengde is entitled to 100% of the distributable profit of Dongfang Paper, pursuant to the above mentioned
Contractual Agreements. In addition, Dongfang Paper and the Dongfang Paper Equity Owners shall not declare any of Dongfang Paper&rsquo;s
unappropriated earnings as dividend, including the unappropriated earnings of Dongfang Paper from its establishment to 2010 and
thereafter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company has no direct equity interest in Dongfang Paper. However, through the Contractual Agreements described above, the Company
is found to be the primary beneficiary (the &ldquo;Primary Beneficiary&rdquo;) of Dongfang Paper and is deemed to have the effective
control over Dongfang Paper&rsquo;s activities that most significantly affect its economic performance, resulting in Dongfang
Paper being treated as a controlled variable interest entity of the Company in accordance with Topic 810 - Consolidation of the
Accounting Standards Codification (the &ldquo;ASC&rdquo;) issued by the Financial Accounting Standard Board (the &ldquo;FASB&rdquo;).
The revenue generated from Dongfang Paper for the years ended December 31, 2018 and 2017 was accounted for 99.98% and 100% of
the Company&rsquo;s total revenue, respectively. Dongfang Paper also accounted for 90.60% and 87.96% of the total assets of the
Company as of December 31, 2018 and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, details of the Company&rsquo;s subsidiaries and variable interest entity are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Date
    of Incorporation</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Place
                                         of</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Incorporation&nbsp;or</B></FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Percentage&nbsp;of</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>or&nbsp;Establishment</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Establishment</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Ownership</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Principal&nbsp;Activity</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Subsidiary:</I></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 26%; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Holding</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">November&nbsp;13,&nbsp;2006</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">BVI</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inactive
    investment holding</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shengde
    Holdings</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">February
    25, 2009</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">State
    of Nevada</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Investment
    holding</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Baoding
    Shengde</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">June
    1, 2009</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">PRC</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paper&nbsp;production&nbsp;and&nbsp;distribution</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Variable
    interest entity (&ldquo;VIE&rdquo;):</I></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
    Paper</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
    10, 1996</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">PRC</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">Control</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paper
    production and distribution</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif">
<TD STYLE="width: 0; font-family: Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
                                         Paper is treated as a 100% controlled variable interest entity of the Company.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">However,
uncertainties in the PRC legal system could cause the Company&rsquo;s current ownership structure to be found to be in violation
of any existing and/or future PRC laws or regulations and could limit the Company&rsquo;s ability, through its subsidiary, to
enforce its rights under these contractual arrangements. Furthermore, shareholders of the VIE may have interests that are different
than those of the Company, which could potentially increase the risk that they would seek to act contrary to the terms of the
aforementioned agreements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future
PRC law, the Company may be subject to penalties, which may include, but not be limited to, the cancellation or revocation of
the Company&rsquo;s business and operating licenses, being required to restructure the Company&rsquo;s operations or being required
to discontinue the Company&rsquo;s operating activities. The imposition of any of these or other penalties may result in a material
and adverse effect on the Company&rsquo;s ability to conduct its operations. In such case, the Company may not be able to operate
or control the VIE, which may result in deconsolidation of the VIE. The Company believes the possibility that it will no longer
be able to control and consolidate its VIE will occur as a result of the aforementioned risks and uncertainties is remote.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company has aggregated the financial information of Dongfang Paper in the table below. The aggregate carrying value of Dongfang
Paper&rsquo;s assets and liabilities (after elimination of intercompany transactions and balances) in the Company&rsquo;s consolidated
balance sheets as of December 31, 2018 and 2017 are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(
    Unaudited)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">ASSETS</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current
    Assets</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash
    and bank balances</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,328,980</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,681,942</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restricted
    cash</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,642,616</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,121,637</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts
    receivable</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,876,632</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,843,682</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inventories</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,906,004</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,431,972</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prepayments
    and other current assets</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,219,395</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">646,598</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    current assets</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">23,973,627</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">19,725,831</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Property,
    plant, and equipment, net</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">153,302,061</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">167,727,768</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferred
    tax asset non-current</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,711,412</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,167,288</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Assets</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">183,987,100</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">192,620,887</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">LIABILITIES</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current
    Liabilities</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Short-term
    bank loans</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,802,075</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,192,923</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current
    portion of long-term loans from credit union</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">189,416</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,142,175</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts
    payable</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">629,054</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">422,705</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notes
    payable</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,642,616</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,121,637</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Due
    to related parties</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">203,188</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">60,378</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accrued
    payroll and employee benefits</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">208,660</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">227,163</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other
    payables and accrued liabilities</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,222,766</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">836,309</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Income
    taxes payable</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">219,305</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">519,365</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    current liabilities</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">27,117,080</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,522,655</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loans
    from credit union</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,706,259</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loans
    from a related party</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,185,569</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,712,865</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    liabilities</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">34,008,908</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">31,235,520</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company and its consolidated subsidiaries are not required to provide financial support to the VIE, and no creditor (or beneficial
interest holders) of the VIE have recourse to the assets of Company unless the Company separately agrees to be subject to such
claims. There are no terms in any agreements or arrangements, implicit or explicit, which require the Company or its subsidiaries
to provide financial support to the VIE. However, if the VIE does require financial support, the Company or its subsidiaries may,
at its option and subject to statutory limits and restrictions, provide financial support to the VIE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(2)
Basis of Presentation and Significant Accounting Policies</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Basis
of Consolidation</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
consolidated financial statements of the Company are prepared in accordance with accounting principles generally accepted in the
United States of America (&ldquo;US GAAP&rdquo;), and include the assets, liabilities, revenues, expenses and cash flows of all
subsidiaries and variable interest entity. All significant inter-company balances, transactions and cash flows are eliminated
on consolidation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Liquidity
and Going Concern</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 the Company had current assets of $24,158,872 and current liabilities of $29,634,267 (including amounts due
to related parties of $413,336 and interest payable for related party loans of $617,454), resulting in a working capital deficit
of approximately $5,475,395; as of December 31, 2017, the Company had current assets of $19,986,797 and current liabilities of
$21,757,533 (including amounts due to related parties of $60,378), resulting in a working capital deficit of approximately $1,770,736.
In late January, 2018, the Company temporarily suspended its production due to a government-mandated restriction on the natural
gas supply. The Company resumed production on March 14, 2018. As a result, the Company incurred a net loss of $4.0 million in
the first quarter of 2018. As the production resumed, the net cash generated from operations for the nine months from April 2018
to December 2018 was $14 million (cash-in) as compared to the net cash-out of $4.8 million in the first quarter of 2018. The management
expects that there will be sufficient and continuous cash-in from sales in the first half of year 2019 and the working capital
condition will be further improved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 6in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Foreign
Currency Translation</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company accounts for foreign currency translation pursuant to ASC Topic 830,<I>&nbsp;Foreign Currency Matters</I>. The functional
currency of Dongfang Paper and Baoding Shengde is the Chinese Yuan Renminbi (&ldquo;RMB&rdquo;). Monetary assets and liabilities
denominated in currencies other than RMB are translated into RMB at the rates of exchange ruling at the balance sheet date. Transactions
in currencies other than RMB are converted into RMB at the applicable rates of exchange prevailing the transactions occurred.
Transaction gains and losses are recognized in the consolidated statements of income. The functional currency of IT Tech Packaging
and Shengde Holdings is United States dollars. Monetary assets and liabilities denominated in currencies other than United States
dollars are translated into United States dollars at the rates of exchange ruling at the balance sheet date. Translation in currencies
other than United States dollars are converted into United States dollars at the applicable rates of exchange prevailing when
the transactions occurred. Transaction gains or losses are recognized in the consolidated statement of income.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
ASC Topic 830-30, all assets and liabilities are translated into United States dollars using the current exchange rate at the
end of each fiscal period. The current exchange rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese
RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1, respectively. Revenues and expenses are translated using the average exchange
rates prevailing throughout the respective years at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively.
Translation adjustments are included in other comprehensive income (loss).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Use
of Estimates</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities as of December 31, 2018 and 2017, and revenues and expenses for the
years ended December 31, 2018 and 2017. The most significant estimates relate to allowance for uncollectible accounts receivable,
inventory valuation, useful lives and impairment for property, plant and equipment, valuation allowance for deferred tax assets
and contingencies. Actual results could differ from those estimates made by management.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Accounts
Receivable</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Trade
accounts receivable are recorded on shipment of products to customers. The trade receivables are all without customer collateral
and interest is not accrued on past due accounts. Periodically, management reviews the adequacy of its provision for doubtful
accounts based on historical bad debt expense results and current economic conditions using factors based on the aging of its
accounts receivable. Additionally, the Company may identify additional allowance requirements based on indications that a specific
customer may be experiencing financial difficulties. Actual bad debt results could differ materially from these estimates. As
of December 31, 2018 and 2017, the balance of allowance for doubtful accounts was $58,707 and $37,626, respectively; and the movement
of the provision of the doubtful accounts is as below. While management uses the best information available upon which to base
estimates, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions
used for the purposes of analysis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Allowance
    of doubtful accounts</B>&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; font-family: Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Opening
    balance</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">37,626</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">79,478</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provision
    (Reversal) for the year</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">23,676</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(45,309</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exchange
    difference</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2,595</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,457</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Closing
    balance</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">58,707</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">37,626</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Inventories</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inventories
consist principally of raw materials and finished goods, and are stated at the lower of cost (average cost method) or market.
Cost includes labor, raw materials, and allocated overhead. No provision in inventories has been provided for the years ended
December 31, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Property,
Plant, and Equipment</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Property,
plant, and equipment are stated at cost less accumulated depreciation and any impairment losses. Major renewals, betterments,
and improvements are capitalized to the asset accounts while replacements, maintenance, and repairs, which do not improve or extend
the lives of the respective assets, are expensed to operations. At the time property, plant, and equipment are retired or otherwise
disposed of, the asset and related accumulated depreciation or amortization accounts are relieved of the applicable amounts. Gains
or losses from retirements or sales are credited or charged to operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Construction-in-progress
is stated at cost and capitalized as expenses are incurred or as payments are made pursuant to relevant construction contracts.
Contract retention is recorded as accrued liability. Construction in progress is not depreciated until project completion and
the constructed property being placed in service, at which time the capitalized balance will be transferred to appropriate account
of property, plant and equipment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company depreciates property, plant, and equipment using the straight-line method as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Land
    use right</FONT></TD>
    <TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Over
    the lease term</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Building
    and improvements</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">30
    years</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Machinery
    and equipment</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">5-15
    years</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Vehicles</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">15
    years</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Valuation
of long-lived asset</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company reviews the carrying value of long-lived assets to be held and used when events and circumstances warrants such a review.
The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is
separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which
the carrying value exceeds the fair market value of the long-lived asset and intangible assets. Fair market value is determined
primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets
and intangible assets to be disposed are determined in a similar manner, except that fair market values are reduced for the cost
to dispose.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Statutory
Reserves</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">According
to the laws and regulations in the PRC, the Company is required to provide for certain statutory funds, namely, a reserve fund
by an appropriation from net profit after taxation but before dividend distribution based on the local statutory financial statements
of the PRC subsidiary and variable interest entity prepared in accordance with the PRC accounting principles and relevant financial
regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
of the Company&rsquo;s wholly owned subsidiary and variable interest entity in the PRC are required to allocate at least 10% of
its net profit to the reserve fund until the balance of such fund has reached 50% of its registered capital. Appropriations of
additional reserve fund are determined at the discretion of its directors. The reserve fund can only be used, upon approval by
the relevant authority, to offset accumulated losses or increase capital.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018 and 2017, IT Tech Packaging made transfers of $nil to this reserve fund. As a result of net
loss in fiscal year 2018 and 2017 of Baoding Shengde, no statutory reserves were provided for the year ended December 31, 2018
and 2017. The Company&rsquo;s variable interest entity Dongfang Paper, the statutory reserve account of which has been fully funded
for 50% of its registered capital in the amount of RMB 75,030,000 (or approximately $11,811,470) since December 31, 2010, did
not make any transfer to statutory reserves during the years ended December 31, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Employee
Benefit Plan</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Full
time employees of the PRC entities participate in a government mandated multi-employer defined contribution plan pursuant to which
certain pension benefits, medical care, unemployment insurance and other welfare benefits are provided to employees. The total
provision for such employee benefits was $nil for the years ended December 31, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Revenue
Recognition Policy</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company recognizes revenue when goods are delivered, when a formal arrangement exists, the price is fixed or determinable, the
delivery is completed, no other significant obligations of the Company exist, and collectability is reasonably assured. Goods
are considered delivered when customer&rsquo;s truck picks up goods at our finished goods inventory warehouse.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Shipping
Cost</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Substantially
all customers use their own trucks or hire commercial trucking companies to pick up goods from the Company. The Company usually
incurs no shipping cost for delivery of goods to customers. For those rare situations where products are not shipped utilizing
customer specified shipping services, the Company charges customers a shipping fee which is included in net revenues and was not
material. Freight-in and handling costs incurred by the Company with respect to purchased goods are recorded as a component of
inventory cost and charged to cost of sales when the inventory items are sold.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Advertising</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company expenses all advertising and promotion costs as incurred. The Company incurred $nil of advertising and promotion costs
for the years ended December 31, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Research
and development costs</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Research
and development costs are expensed as incurred and included in selling, general and administrative expenses. Research and development
expenses incurred $30,194 and $31,922 for the years ended December 31, 2018 and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Borrowing
costs</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Borrowing
costs attributable directly to the acquisition, construction or production of qualifying assets which require a substantial period
of time to be ready for their intended use or sale, are capitalized as part of the cost of those assets. Income earned on temporary
investments of specific borrowings pending their expenditure on those assets is deducted from borrowing costs capitalized. All
other borrowing costs are recognized in interest expenses in the period in which they are incurred.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Government
subsidies</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
government subsidy is not recognized until there is reasonable assurance that: (a) the enterprise will comply with the conditions
attached to the grant; and (b) the grant will be received. When the Company received the government subsidies but the conditions
attached to the grants have not been fulfilled, such government subsidies are deferred and recorded under other payables and accrued
expenses, and other long-term liability. The classification of short-term or long-term liabilities is depended on the management&rsquo;s
expectation of when the conditions attached to the grant can be fulfilled. For the years ended December 31, 2018 and 2017, the
Company received government subsidies of $241,189 and $41,529, which are recognized as subsidy income in the consolidated statements
of income in that fiscal year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Lease
Obligations</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
non-cancellable leases with an initial term greater than one year are categorized as either capital or operating leases. For the
lessee, a lease is a capital lease if any of the following conditions exist: a) ownership is transferred to the lessee by the
end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property&rsquo;s estimated
remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more
of the fair value of the leased property to the lessor at the inception date. A capital lease is accounted for as if there was
an acquisition of an asset and an incurrence of an obligation at the inception of the lease. All other leases are accounted for
as operating leases. Assets recorded under capital leases are amortized according to the same depreciation methods employed for
property, plant and equipment or over the term of the related lease, if shorter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company defers any profit or loss from a sale-leaseback transaction unless any of the following conditions exist: a) the seller-lessee
relinquishes the right to substantially all of the remaining use of the property sold retaining only a minor portion of such use;
b) the seller-lessee retains more than a minor part but less than substantially all of the use of the property through the leaseback
and realizes a profit on the sale in excess of the recorded amount of the leased assets; or c) the fair value of the property
at the time of the transaction is less than its undepreciated cost, in which circumstance a loss shall be recognized immediately.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Income
Taxes</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company accounts for income taxes pursuant to ASC Topic 740, Income Taxes. Income taxes are provided on an asset and liability
approach for financial accounting and reporting of income taxes. Any tax paid by subsidiaries during the year is recorded. Current
tax is based on the profit or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income
tax purpose and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. ASC Topic
740 also requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the
financial statements and the tax basis of assets and liabilities, and for the expected future tax benefit to be derived from tax
losses and tax credit carry-forwards. ASC Topic 740 additionally requires the establishment of a valuation allowance to reflect
the likelihood of realization of deferred tax assets. Realization of deferred tax assets, including those related to the U.S.
net operating loss carry-forwards, are dependent upon future earnings, if any, of which the timing and amount are uncertain.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company adopted ASC Topic 740-10-05,<I>&nbsp;Income Tax</I>, which provides guidance for recognizing and measuring uncertain tax
positions, it prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position
to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure
of these uncertain tax positions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company&rsquo;s policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is
to present them as a component of income tax expense.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Value
Added Tax</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Both
the PRC subsidiary and variable interest entity of the Company are subject to value added tax (&ldquo;VAT&rdquo;) imposed by the
PRC government on its purchase and sales of goods. The output VAT is charged to customers who purchase goods from the Company
and the input VAT is paid when the Company purchases goods from its vendors. VAT rate is 16% in general, depending on the types
of products purchased and sold. The input VAT can be offset against the output VAT. Debit balance of VAT payable represents a
credit against future collection of output VAT instead of a receivable due from government.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Comprehensive
Income (Loss)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company presents comprehensive income (loss) in accordance with ASC Topic 220,<I>&nbsp;Comprehensive Income</I>. ASC Topic 220
states that all items that are required to be recognized under accounting standards as components of comprehensive income (loss)
be reported in the consolidated financial statements. The components of comprehensive income (loss) were the net income for the
years and the foreign currency translation adjustments.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Earnings
Per Share</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Basic
earnings per share is computed by dividing the net income attributable to the common stockholders by the weighted average number
of shares of common stock outstanding during the period. Diluted earnings per share is computed similar to basic earnings per
share except that the denominator is increased to include the number of additional common shares that would have been outstanding
if the potential common shares had been issued and if the additional common shares were dilutive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Share-Based
Compensation</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company uses the fair value recognition provision of ASC Topic 718,<I>&nbsp;Compensation-Stock Compensation,</I>&nbsp;which requires
the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant
date fair value of such instruments over the vesting period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company also applies the provisions of ASC Topic 505-50,<I>&nbsp;Equity Based Payments to Non-Employees</I>&nbsp;to account for
stock-based compensation awards issued to non-employees for services. Such awards for services are recorded at either the fair
value of the consideration received or the fair value of the instruments issued in exchange for such services, whichever is more
reliably measurable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Fair
Value Measurements</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company has adopted ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework
for measuring fair value in GAAP, and expands disclosures about fair value measurements. It does not require any new fair value
measurements, but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source
of the information. It establishes a three-level valuation hierarchy of valuation techniques based on observable and unobservable
inputs, which may be used to measure fair value and include the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Level
1 - Quoted prices in active markets for identical assets or liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Level
2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or
liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable
market data for substantially the full term of the assets or liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Level
3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets
or liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Classification
within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable
judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts that
the Company could realize in a current market exchange. As of December 31, 2018 and 2017, the carrying value of the Company&rsquo;s
short term financial instruments, such as cash and bank balances, accounts receivable, accounts and notes payable, short-term
bank loans and balance due to related parties, approximate at their fair values because of the short maturity of these instruments;
while loans from credit union, loans from a related party and obligation under capital lease approximate at their fair value as
the interest rates thereon are close to the market rates of interest published by the People&rsquo;s Bank of China.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company does not have any assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Non-Recurring
Fair Value Measurements</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 62.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company reviews long-lived assets for impairment annually or more frequently if events or changes in circumstances indicate the
possibility of impairment. For the continuing operations, long-lived assets are measured at fair value on a nonrecurring basis
when there is an indicator of impairment, and they are recorded at fair value only when impairment is recognized. For discontinued
operations, long-lived assets are measured at the lower of carrying amount or fair value less cost to sell. The fair value of
these assets were determined using models with significant unobservable inputs which were classified as Level 3 inputs, primarily
the discounted future cash flow.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(3)
Restricted Cash</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restricted
cash of $3,642,616 as of December 31, 2018 was presented for the cash deposited at the Bank of Cangzhou for purpose of securing
the bank acceptance notes from these banks (see Note (9)). The restriction has been lifted upon the maturity of the notes payable
on January 10, 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restricted
cash of $6,121,637 as of December 31, 2017 was presented for the cash deposited at the Bank of Cangzhou for purpose of securing
the bank acceptance notes from these banks. The restriction has been lifted upon the maturity of the notes payable on January
5, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(4)
Inventories</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Raw
materials inventory includes mainly recycled paper and coal.&nbsp;Finished goods include mainly products of corrugating medium
paper and offset printing paper.&nbsp;Inventories consisted of the following as of and December 31, 2018 and 2017:&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Raw
    Materials</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Recycled
    paper board</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">412,317</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,337,374</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Recycled
    white scrap paper</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">611,861</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">862,734</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Coal
    &amp; gas</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">167,230</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">71,674</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Base
    paper and other raw materials</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">164,295</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">216,655</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,355,703</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,488,437</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Finished
    Goods</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,567,813</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">985,728</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Totals</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,923,516</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,474,165</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(5)
Prepayments and other current assets</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prepayments
and other current assets consisted of the following as of December 31, 2018 and 2017:&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prepaid
    land lease</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">437,114</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">459,123</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Value-added
    tax recoverable</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,760,280</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prepayment
    for purchase of materials</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">183,649</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Others</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">43,905</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,751</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,241,299</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">651,523</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(6)
Property, plant and equipment</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, property, plant and equipment consisted of the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">December&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">December&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Property, Plant, and Equipment:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 82%; text-align: left">Land use rights</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">11,881,571</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 6%; text-align: right">12,479,814</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Building and improvements</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">94,127,348</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">98,866,703</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Machinery and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">147,383,943</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">118,670,578</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Vehicles</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">597,484</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">593,265</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Construction in progress</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">5,005,041</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">36,077,498</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Totals</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">258,995,387</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">266,687,858</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation and amortization</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(91,165,671</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(77,299,149</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt">Property, Plant and Equipment, net</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">167,829,716</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">189,388,709</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and December 31, 2017, land use rights represented two parcel of state-owned lands located in Xushui District
of Hebei Province in China, with lease terms of 50 years expiring from 2061 to 2066.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Construction
in progress as of December 31, 2017 mainly represents payments for the new 15,000 tonnes per year tissue paper manufacturing equipment
PM8, the tissue paper workshops and general infrastructure and administrative facilities in the Wei County Industrial Park. In
December 2018, the Company announced commercial launch of PM8 and the related cost of construction in progress were capitalized
as machinery and equipment costs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, certain property, plant and equipment of Dongfang Paper with net values of $5,782,640 and $7,963,285,
respectively, have been pledged pursuant to a long-term loan from credit union of Dongfang Paper. Land use right of Dongfang Paper
with net values of $5,990,586 and $6,437,419 as of December 31, 2018 and 2017 were pledged for the bank loan from Bank of Industrial
&amp; Commercial Bank of China. In addition, plant and equipment of Baoding Shengde with net values of $12,939,899 and $nil as
of December 31, 2018 and 2017, respectively, and another land use right with net value of $4,762,300 and $nil as of December 31,
2018 and 2017 were pledged for the bank loan from Bank of Cangzhou. See &ldquo;<I>Short-term bank loans</I>&rdquo; under Note
(7), Loans Payable, for details of the transaction and asset collaterals.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation and amortization of property,
plant and equipment was $14,290,919 and $14,633,780 for the years ended December 31, 2018 and 2017, respectively. Impairment loss
was recorded for certain inactive production line in the amount of $3,894,461 and $2,291,027 for the years ended December 31,
2018 and 2017, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(7)
Loans Payable</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Short-term
bank loans</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 70%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Industrial
    and Commercial Bank of China (&ldquo;ICBC&rdquo;) Loan 1</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,285,145</FONT></TD><TD STYLE="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">ICBC
    Loan 2</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,907,778</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bank of Cangzhou</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,099,662</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">ICBC
    Loan 3</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,079,730</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">ICBC
    Loan 4</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,622,683</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    short-term bank loans</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 4pt; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,802,075</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,192,923</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as
    of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January
    8, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $- and
    $2,907,778 as     of December 31, 2018 and December 31, 2017. The working capital loan is secured by the Company&rsquo;s land
    use right as collateral     for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan
    was due and repaid on October     12, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn
    on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per
    annum. The working capital loan is secured by the Company&rsquo;s land use right and guaranteed by the Company&rsquo;s CEO
    and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on
    January 3, 2019.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as
    of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 5.4% per annum. The loan was due and repaid on January
    28, 2019.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
    November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as
    of December 31, 2018. The working capital loan is secured by the Company&rsquo;s land use right as collateral for the benefit
    of the bank. The loan bears a fixed interest rate of 4.741% per annum. The loan will be due on November 26, 2019.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, there were guaranteed short-term borrowings of $11,802,075 and unsecured bank loans of $nil. As of December
31, 2017, there were guaranteed short-term borrowings of $7,192,923 and unsecured bank loans of $nil.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
average short-term borrowing rates for the years ended December 31, 2018 and 2017 were approximately 5.66% and 5.27%, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Long-term
loans from credit union</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, loans payable to Rural Credit Union of Xushui County, amounted to $7,197,808 and $7,560,221, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rural
    Credit Union of Xushui District Loan 1</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,253,060</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,316,152</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rural
    Credit Union of Xushui District Loan 2</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,642,615</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,826,022</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rural
    Credit Union of Xushui District Loan 3</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,302,133</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,418,047</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,197,808</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,560,221</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Less:
    Current portion of long-term loans from credit union</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2,491,549</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(6,366,502</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Long-term
    loans from credit union</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,706,259</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,193,719</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, the Company&rsquo;s long-term debt repayments for the next five years were as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><B>Fiscal year</B></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amount</TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 91%; font: 10pt Times New Roman, Times, Serif; text-align: left">2019</TD><TD STYLE="width: 0%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right">2,491,549</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">2020</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">131,134</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">2021</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">203,986</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">2022</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,602,751</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid">2,768,388</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double">7,197,808</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
April 16, 2014, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,
which is payable in various installments from June 21, 2014 to November 18, 2018. The loan is guaranteed by an independent third
party. Interest payment is due quarterly and bears the rate of 0.64% per month. On November 6, 2018, the loan was renewed for
additional 5 years and will be due and payable in various installments from December 21, 2018 to November 5, 2023. As of December
31, 2018 and 2017, total outstanding loan balance was $1,253,060 and $1,316,152, respectively, Out of the total outstanding loan
balance, current portion amounted were $nil and $1,316,152 as of December 31, 2018 and 2017, respectively, which are presented
as current liabilities in the consolidated balance sheet and the remaining balance of $1,253,060 and $nil are presented as non-current
liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
July 15, 2013, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,
which was originally due and payable in various installments from December 21, 2013 to July 26, 2018. On June 21, 2018, the loan
was extended for additional 5 years and will be due and payable in various installments from December 21, 2018 to June 20, 2023.
The loan is secured by certain of the Company&rsquo;s manufacturing equipment with net book value of $5,782,640 and $7,963,285
as of December 31, 2018 and 2017, respectively. Interest payment is due quarterly and bears a fixed rate of 0.64% per month. As
of December 31, 2018 and 2017, the total outstanding loan balance was $3,642,615 and $3,826,022, respectively. Out of the total
outstanding loan balance, current portion amounted were $nil and $3,826,022 as of December 31, 2018 and 2017, respectively, which
are presented as current liabilities in the consolidated balance sheet and the remaining balance of $3,642,615 and $nil are presented
as non-current liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
April 20, 2017, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 2 years,
which is due and payable in various installments from August 26, 2017 to April 19, 2019. The loan is guaranteed by Hebei Tengsheng
with its land use right pledged as collateral for the benefit of the bank. Interest payment is due quarterly and bears a fixed
rate of 0.6% per month. As of December 31, 2018 and December 31, 2017, the total outstanding loan balance was $2,302,133 and $2,418,047,
respectively. Out of the total outstanding loan balance, current portion amounted were $2,302,133 and $1,224,328 as of December
31, 2018 and December 31, 2017, respectively, which are presented as current liabilities in the consolidated balance sheet and
the remaining balance of $nil and $1,193,719 are presented as non-current liabilities in the consolidated balance sheet as of
September 30, 2018 and December 31, 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
interest expenses for the short-term bank loans and long-term loans for the years ended December 31, 2018 and 2017 were $1,214,708
and $1,196,814, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(8)
Related Party Transactions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr
Zhenyong Liu, the Company&rsquo;s CEO has loaned money to Dongfang Paper for working capital purposes over a period of time. On
January 1, 2013, Dongfang Paper and Mr. Zhenyong Liu renewed the three-year term loan previously entered on January 1, 2010, and
extended the maturity date further to December 31, 2015. On December 31, 2015, the Company paid off the loan of $2,249,279, together
with interest of $391,374 for the period from 2013 to 2015. Approximately $373,490 and $392,296 of interest were outstanding to
Mr. Zhenyong Liu, which were recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated
balance sheet as of December 31, 2018 and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
December 10, 2014, Mr. Zhenyong Liu provided a loan to the Company, amounted to $8,742,278 to Dongfang Paper for working capital
purpose with an interest rate of 4.35% per annum, which was based on the primary lending rate of People&rsquo;s Bank of China.
The unsecured loan was provided on December 10, 2014, and would be originally due on December 10, 2017. During the year of 2016,
the Company repaid $6,012,416 to Mr. Zhenyong Liu, together with interest of $288,596. In February 2018, the company repaid $3,014,863
to Mr. Zhenyong Liu, together with interest of $20,400. As of December 31, 2018 and 2017, the outstanding loan balance was $nil
and $3,060,818, respectively and the accrued interest was $43,711 and $45,912, respectively, which was recorded in other payables
and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
March 1, 2015, the Company entered an agreement with Mr. Zhenyong Liu which allows Dongfang Paper to borrow from the CEO an amount
up to $17,484,555 (RMB120,000,000) for working capital purposes. The advances or funding under the agreement are due three years
from the date each amount is funded. The loan is unsecured and carries an annual interest rate set on the basis of the primary
lending rate of the People&rsquo;s Bank of China at the time of the borrowing. On July 13, 2015, an unsecured amount of $4,324,636
was drawn from the facility. On October 14, 2016 an unsecured amount of $2,883,091 was drawn from the facility. In February 2018,
the company repaid $1,507,432 to Mr. Zhenyong Liu. The loan would be originally due on July 12, 2018. Mr. Zhenyong Liu agreed
to extend the loan for additional 3 years and the remaining balance will be due on July 12, 2021. On November 23, 2018, the company
repaid $3,768,579 to Mr. Zhenyong Liu, together with interest of $158,651. As of December 31, 2018 and 2017, the outstanding loan
balance were $2,185,569 and $7,652,047, respectively, and the accrued interest was $200,253 and $110,476, respectively, which
was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, total amount of loans due to Mr. Zhenyong Liu were $2,185,569 and $10,712,865, respectively. The
interest expense incurred for such related party loans are $277,411 and $451,626 for the years ended December 31, 2018 and 2017,
respectively. The accrued interest owe to the CEO was approximately $617,454 and $548,684, as of December 31, 2018 and 2017, respectively,
which was recorded in other payables and accrued liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, amount due to shareholder are $210,148 and $nil, respectively, which represents funds from shareholders
to pay for various expenses incurred in the U.S. The amount is due on demand with interest free.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sale
of Headquarters Compound Real Properties to a Related Party</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 7, 2013, the Company&rsquo;s Audit Committee and the Board of Directors approved the sale of the land use right of the
Headquarters Compound (the &ldquo;LUR&rdquo;), the office building and essentially all industrial-use buildings in the Headquarters
Compound (the &ldquo;Industrial Buildings&rdquo;), and three employee dormitory buildings located within the Headquarters Compound
(the &ldquo;Dormitories&rdquo;) to Hebei Fangsheng for cash prices of approximately $2.77 million, $1.15 million, and $4.31 million
respectively. Sales of the LUR and the Industrial Buildings were completed in year 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
connection with the sale of the Industrial Buildings, Hebei Fangsheng agreed to lease the Industrial Buildings back to the Company
for its original use for a term of up to three years, with an annual rental payment of approximately $150,743 (RMB1,000,000).
The lease agreement expired in August 2016. On August 6, 2016 and August 6, 2018, the Company entered into two supplementary agreements
with Hebei Fangsheng, who agreed to extend the lease term for another four years in total, with the same rental payment as original
lease agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(9)
Notes payable</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, the Company had bank acceptance notes of $3,642,616 from the Bank of Cangzhou to one of its major suppliers
for settling purchase of raw materials. The acceptance notes are used to essentially extend the payment of accounts payable and
are issued under the banking facilities obtained from bank as well as the restricted bank deposit of $3,642,616 in the bank as
mentioned in Note (3). The bank acceptance notes from the bank bore interest rate at nil% per annum and 0.05% of notes amount
as handling charge. The acceptance notes were due and paid off in January 2019.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2017, the Company had bank acceptance notes of $6,121,637 from the Bank of Cangzhou to one of its major suppliers
for settling purchase of raw materials. The acceptance notes are used to essentially extend the payment of accounts payable and
are issued under the banking facilities obtained from bank as well as the restricted bank deposit of $6,121,637 in the bank. The
bank acceptance notes from the bank bore interest rate at nil% per annum and 0.05% of notes amount as handling charge. The acceptance
notes were due and paid off in January 2018.&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(10)
Other payables and accrued liabilities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other
payables and accrued liabilities consist of the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accrued
    electricity</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">186,780</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,862</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Value-added
    tax payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">520,190</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">196,395</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accrued
    interest to a related party</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">617,454</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">548,684</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Payable
    for purchase of equipment</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,788,924</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">49,585</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accrued
    commission to salesmen</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">62,247</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">16,992</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Others</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">47,201</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">21,819</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Totals</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,222,796</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">836,337</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(11)
Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Issuance
of common stock to investors&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 52.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 27, 2014, the Company issued 1,562,500 shares of our common stock and warrants to purchase up to 781,250 shares of our
common stock (the &ldquo;Offering&rdquo;). Each share of common stock and accompanying warrant was sold at a price of $1.60. Please
refer to Note (12), Stock Warrants, for details.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Issuance
of common stock pursuant to the 2012 Incentive Stock Plan and 2015 Omnibus Equity Incentive</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
January 12, 2016, the Company granted an aggregate of 1,133,916 shares of common stock under its compensatory incentive plans
to nine officers, directors and employees of and a consultant when the stock was at $1.25 per share, as compensation for their
services in the past years, of which 168,416 shares of common stock were granted under the 2012 Incentive Stock Plan and 965,500
shares were granted under the 2015 Omnibus Equity Incentive. Please see Note (15), Stock Incentive Plans for more details. Total
fair value of the stock was calculated at $1,417,395 as of the date of grant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
September 13, 2018, the compensation committee granted an aggregate of 534,500 shares of common stock at $0.88 per share to fifteen
officers, directors and employees of the Company, which were granted under the 2015 Omnibus Equity Incentive Plan. Total fair
value of the shares of common stock granted was calculated at $470,360 as of the date of issuance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Issuance
of common stock to Weitian&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 52.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
October 15, 2018, the Company entered an agreement with Weitian Group LCC(&ldquo;Weitian&rdquo;) and agreed as compensation to
issue to Weitian in the aggregate of 70,000 shares of common stock for investor relation consulting service rendered from October
15, 2018 to October 15,2019. 37500 shares of common stock were issued to Weitain on November 12, 2018. Total fair value of the
shares of common stock granted was calculated at $32,625 at $0.87 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(12)
Stock warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 27, 2014, the Company issued 1,562,500 shares of our common stock and warrants to purchase up to 781,250 shares of our
common stock. The warrants have an exercise price of $1.70 per share. These warrants are exercisable immediately upon issuance
on September 3, 2014 and have a term of exercise equal to five years from the date of issuance till September 2, 2019. The fair
value of these shares amounted to $780,000, is classified as equity at the date of issuance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
fair value of the warrants issued was estimated by using the Binominal pricing model with the following assumptions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Terms
    of warrants</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5
                                         years</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Expected
    volatility</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">72.0</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risk-free
    interest rate</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.69</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Expected
    dividend yield</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.81</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
connection with the Offering, the Company issued warrants to its placement agent of this Offering, which can purchase an aggregate
of up to 2.50% of the aggregate number of shares of common stock sold in the Offering, i.e. 39,062 shares. These warrants have
substantially the same terms as the warrants issued to purchaser in the Offering, except that the exercise price is $2.00 per
share and the expiration date is from September 3, 2014 to June 26, 2019. The fair value of these shares amounted to $35,191,
is classified in the equity at the date of issuance to net off the proceeds from the issuance of the shares and warrants.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
fair value of the warrants issued was estimated by using the Binominal pricing model with the following assumptions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Terms
    of warrants</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.81
                                         years</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Expected
    volatility</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">69.8</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risk-free
    interest rate</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.62</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Expected
    dividend yield</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.81</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company applied judgment in estimating key assumptions in determining the fair value of the warrants on the date of issuance.
The Company used historical data to estimate stock volatilities and expected dividend yield. The risk-free rates are consistent
with the terms of the warrants and are based on the United States Treasury yield curve in effect at the time of issuance.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
summary of stock warrant activities is as below:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31, 2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31, 2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Weight
    average exercise&nbsp;price</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Weight
    average exercise&nbsp;price</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 52%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Outstanding
    and exercisable at beginning of the year</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">820,312</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.71</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">820,312</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.71</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Issued
    during the year</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exercised
    during the year</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cancelled
    or expired during the year</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Outstanding
    and exercisable at end of the year</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">820,312</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.71</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">820,312</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.71</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Range
    of exercise price</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$
                                         1.70 to $2.00</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD COLSPAN="5" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$
                                         1.70 to $2.00</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
warrants were issued, exercised, cancelled or expired during the years ended December 31, 2018 and 2017. As of December 31, 2018
and 2017, the aggregated intrinsic value of warrants outstanding and exercisable was $nil.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(13)
Earnings Per Share</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018 and 2017, basic and diluted net income per share are calculated as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Year Ended December 31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Basic (loss) income per share</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-bottom: 1.5pt">Net (loss) income for the year - numerator</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">(10,545,684</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,659,788</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Weighted average common stock outstanding - denominator</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">21,618,305</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">21,450,316</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt">Net (loss) income per share</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(0.49</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">0.08</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">Diluted (loss) income per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Net (loss) income for the year - numerator</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(10,545,684</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,659,788</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Weighted average common stock outstanding - denominator</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">21,618,305</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">21,450,316</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt">Effect of dilution</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Weighted average common stock outstanding - denominator</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">21,618,305</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">21,450,316</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt">Diluted (loss) income per share</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(0.49</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">0.08</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018 and 2017, 820,312 shares related to warrants are excluded from the calculations of dilutive
net income per share as their effects would have been anti-dilutive since the average share price for the years ended December
31, 2018 and 2017 were lower than the warrants exercise price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(14)
Income Taxes</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>United
States</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company and Shengde Holdings are incorporated in the State of Nevada and are subject to the U.S. federal tax and state statutory
tax rates up to 34% and 0%, respectively. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the &ldquo;2017 TCJAAct&rdquo;),
which significantly changed U.S. tax law. The Act 2017 TCJA lowered the Company&rsquo;s U.S. statutory federal income tax rate
from the highest rate of 35% to 21% effective January 1, 2018, while also imposing a deemed repatriation tax on deferred foreign
income which requires companies to pay a one-time transition tax on previously unremitted earnings of non-U.S. subsidiaries that
were previously tax deferred and creates new taxes on certain foreign sourced earnings. The SEC staff issued Staff Accounting
Bulletin (SAB) 118, which provides guidance on accounting for enactment effects of the 2017 TCJA. SAB 118 provides a measurement
period of up to one year from the 2017 TCJA&rsquo;s enactment date for companies to complete their accounting under ASC 740. In
accordance with SAB 118, to the extent that a company&rsquo;s accounting for certain income tax effects of the 2017 TCJA is incomplete
but it is able to determine a reasonable estimate, it must record a provisional estimate in its financial statements. If a company
cannot determine a provisional estimate to be included in its financial statements, it should continue to apply ASC 740 on the
basis of the provisions of the tax laws that were in effect immediately before the enactment of the 2017 TCJA.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
connection with the Company&rsquo;s initial analysis of the impact of the enactment of the 2017 TCJA, the Company recorded a net
tax expense of approximately $80,000 in the fourth quarter of 2017. For various reasons that are discussed more fully below, including
the issuance of additional technical and interpretive guidance, the Company has not completed its accounting for the income tax
effects of certain elements of the 2017 TCJA. However, with respect to the following, the Company was able to make reasonable
estimates of the 2017 TCJA&rsquo;s effects and, as such, recorded provisional amounts:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transition
tax: The transition tax is a tax on previously untaxed accumulated and current earnings and profits (E&amp;P) of certain of the
Company&rsquo;s non-U.S. subsidiaries. To determine the amount of the transition tax, the Company must determine, in addition
to other factors, the amount of post-1986 E&amp;P of the relevant subsidiaries, as well as the amount of non-U.S. income taxes
paid on such earnings. Further, the transition tax is based in part on the amount of those earnings held in cash and other specified
assets. The Company was able to make a reasonable estimate of the transition tax and recorded a provisional obligation and additional
income tax expense of approximately $80,000 in the fourth quarter of 2017. However, the Company is continuing to gather additional
information and will consider additional technical guidance to more precisely compute and account for the amount of the transition
tax. This amount may change when the Company finalizes the calculation of post-1986 foreign E&amp;P previously deferred from U.S.
federal taxation and finalizes the amounts held in cash or other specified assets. The 2017 TCJA&rsquo;s transition tax is payable
over eight years beginning in 2018. Hence, the Company only provided $6,528 for the year ended 31 December 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>PRC</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang
Paper and Baoding Shengde are PRC operating companies and are subject to PRC Enterprise Income Tax. Pursuant to the PRC New Enterprise
Income Tax Law, Enterprise Income Tax is generally imposed at a statutory rate of 25%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
provisions for income taxes for the years ended December 31, 2018 and 2017 were as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left">Provision for Income Taxes</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left">Current Tax Provision U.S.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">8,189</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">6,528</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current Tax Provision PRC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">230,322</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,519,311</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Deferred Tax Provision PRC</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(2,089,439</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(2,863,011</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">Total Provision for (Deferred tax benefit)/ Income Taxes</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">(1,850,928</TD><TD STYLE="padding-bottom: 4pt; text-align: left">)</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">662,828</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to the reversible future PRC
income tax benefits stemming from the timing differences of items such as recognition of asset disposal gain or loss and asset
depreciation, the Company was incorporated in the United States and carried net operating losses of approximately $8,024,104 and
$7,119,918 for U.S. income tax purposes as of December 31, 2018 and 2017, respectively. The net operating loss carried forward
may be available to reduce future years&rsquo; taxable income. These carry forwards would expire, if not utilized, beginning in
2030. Since management believed that the realization of all the U.S. income tax benefits from these losses, which generally would
generate a deferred tax asset if it can be expected to be utilized in the future, appears not more than likely due to the Company&rsquo;s
limited operating history and continuing losses for United States income tax purposes, the Company has not recognized deferred
tax assets for such net operating losses. A summary of the otherwise deductible (or taxable) deferred tax items is as follows:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December&nbsp;31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Deferred tax assets</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; padding-left: 9pt">Depreciation and amortization of property, plant and equipment</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">7,097,828</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">5,123,762</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Impairment of property, plant and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">546,531</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">440,080</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt">Miscellaneous</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">289,799</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">712,517</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Net operating loss carryover of PRC company</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">342,933</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">296,200</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Net operating loss carryover for U.S. income tax purposes</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total deferred tax assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,277,091</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,572,559</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt">Less: Valuation allowance</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 4pt">Total deferred tax assets, net</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">8,277,091</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">6,572,559</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table reconciles the statutory rates to the Company&rsquo;s effective tax rate as of:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">Year ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31,</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2017</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left">PRC Statutory rate</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">25.0</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">25.0</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Effect of the U.S. Transition Tax under the 2017 TCJA</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Effect of different tax jurisdiction</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(0.8</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Effect of expenses not deductible for PRC tax purposes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31.3</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6.2</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">(Over) Under-provision in previous year</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1.1</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Change in valuation allowance</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.0</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt">Other</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(38.7</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">3.0</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 4pt">Effective income tax rate</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">17.6</TD><TD STYLE="padding-bottom: 4pt; text-align: left">%</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">28.5</TD><TD STYLE="padding-bottom: 4pt; text-align: left">%</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2017, except for the one-time transition tax under the 2017 TCJA which imposes a U.S. tax liability on all unrepatriated
foreign E&amp;Ps, the Company does not believe that its future dividend policy and the available U.S. tax deductions and net operating
losses will cause the Company to recognize any other substantial current U.S. federal or state corporate income tax liability
in the near future. Nor does it believes that the amount of the repatriation of the VIE&rsquo;s earnings and profits for purposes
of paying dividends will change the Company&rsquo;s position that its PRC subsidiary Baoding Shengde and the VIE, Dongfang Paper
are considered or are expected to be indefinitely reinvested offshore to support our future capacity expansion. If these earnings
are repatriated to the U.S. resulting in U.S. taxable income in the future, or if it is determined that such earnings are to be
remitted in the foreseeable future, additional tax provisions would be required.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2018
and 2017, the effective income tax rate was estimated by the Company to be 17.6% and 28.5%, respectively.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company has adopted ASC Topic 740-10-05, Income Taxes. To date, the adoption of this interpretation has not impacted the Company&rsquo;s
financial position, results of operations, or cash flows. The Company performed self-assessment and the Company&rsquo;s liability
for income taxes includes the liability for unrecognized tax benefits, interest and penalties which relate to tax years still
subject to review by taxing authorities. Audit periods remain open for review until the statute of limitations has passed, which
in the PRC is usually 5 years. The completion of review or the expiration of the statute of limitations for a given audit period
could result in an adjustment to the Company&rsquo;s liability for income taxes. Any such adjustment could be material to the
Company&rsquo;s results of operations for any given quarterly or annual period based, in part, upon the results of operations
for the given period. As of December 31, 2018 and 2017, management considered that the Company had no uncertain tax positions
affecting its consolidated financial position and results of operations or cash flows, and will continue to evaluate for any uncertain
position in future. There are no estimated interest costs and penalties provided in the Company&rsquo;s consolidated financial
statements for the years ended December 31, 2018 and 2017, respectively. The Company&rsquo;s tax positions related to open tax
years are subject to examination by the relevant tax authorities and the major one is the China Tax Authority.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(15)
Stock Incentive Plans</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Issuance
of common stock pursuant to the 2011 Incentive Stock Plan and 2012 Incentive Stock Plan</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 28, 2011, the Company&rsquo;s Annual General Meeting approved the 2011 Incentive Stock Plan ofIT Tech Packaging, Inc. (the
&ldquo;2011 ISP&rdquo;) as previously adopted by the Board of Directors on July 5, 2011. Under the 2011 ISP, the Company may grant
an aggregate of 375,000 shares of the Company&rsquo;s common stock to the Company&rsquo;s directors, officers, employees or consultants.
No stock or option was issued under the 2011 ISP until January 2, 2012, when the Compensation Committee granted 109,584 shares
of restricted common stock to certain officers and directors of the Company when the stock was at $3.45 per share, as compensation
for their services in the past years. Total fair value of the stock was calculated at $378,065 as of the date of issuance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
September 10, 2012, the Company&rsquo;s Annual General Meeting approved the 2012 Incentive Stock Plan of IT Tech Packaging , Inc.
(the &ldquo;2012 ISP&rdquo;) as previously adopted by the Board of Directors on July 4, 2012. Under the 2012 ISP, the Company
may grant an aggregate of 200,000 shares of the Company&rsquo;s common stock to the Company&rsquo;s directors, officers, employees
or consultants. Specifically, the Board and/or the Compensation Committee have authority to (a) grant, in its discretion, Incentive
Stock Options or Non-statutory Options, Stock Awards or Restricted Stock Purchase Offers; (b) determine in good faith the fair
market value of the stock covered by any grant; (c) determine which eligible persons shall receive grants and the number of shares,
restrictions, terms and conditions to be included in such grants; and (d) make all other determinations necessary or advisable
for the 2012 ISP&rsquo;s administration. On December 31, 2013, the Compensation Committee granted restricted common shares of
297,000, out of which 265,416 shares were granted under the 2011 ISP and 31,584 shares under the 2012 ISP, to certain officers,
directors and employees of the Company when the stock was at $2.66 per share, as compensation for their services in the past years.
Total fair value of the stock was calculated at $790,020 as of the date of grant.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>2015
Incentive Plan</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
August 29, 2015, the Company&rsquo;s Annual General Meeting approved the 2015 Omnibus Equity Incentive Plan of IT Tech Packaging,
Inc. (the &ldquo;2015 ISP&rdquo;) as previously adopted by the Board of Directors on July 10, 2015. Under the 2015 ISP, the Company
may grant an aggregate of 1,500,000 shares of the Company&rsquo;s common stock to the directors, officers, employees and/or consultants
of the Company and its subsidiaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
January 12, 2016, the Compensation Committee granted un-restricted common shares of 1,133,916, of which 168,416 shares were granted
under the 2012 ISP and 965,500 shares under the 2015 ISP, to certain officers, directors, employees and a consultant of the Company
as compensation for their services in the past years. Total fair value of the stock was calculated at $1,417,395 as of the date
of issuance at $1.25 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
September 13, 2018, the compensation committee granted an aggregate of 534,500 shares of common stock to fifteen officers, directors
and employees of the Company, which were granted under the 2015 Omnibus Equity Incentive Plan. Total fair value of the shares
of common stock granted was calculated at $470,360 as of the date of issuance at $0.88 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(16)
Commitments and Contingencies</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Operating
Lease</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company leases 32.95 acres of land from a local government in Xushui District, Baoding City, Hebei, China through a real estate
lease with a 30-year term, which expires on December 31, 2031. The lease requires an annual rental payment of approximately $18,089
(RMB 120,000). This operating lease is renewable at the end of the 30-year term.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">O
November 27, 2012, the company entered into a 49.4 acres land lease with an investment company in the Economic Development Zone
in Wei County, Hebei Province, China. The lease term of the Wei County land lease commences on the date of the lease and lasts
for 15 years. The lease requires an annual rental payment of $542,675 (RMB 3,600,000). The Company is currently building two new
tissue paper production lines and future production facilities in the leased Wei County land.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
mentioned in Note (8) Related Party Transactions, in connection with the sale of Industrial Buildings to Hebei Fangsheng, Hebei
Fangsheng agrees to lease the Industrial Buildings back to the Company at an annual rental of $150,743 (RMB 1,000,000), for a
total term of up to five years.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Future
minimum lease payments are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">2019</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">542,021</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">2020</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">542,021</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">2021</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">542,021</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">2022</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">542,021</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">2023</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">542,021</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thereafter</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,194,312</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    operating lease payments</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,904,417</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Capital
commitment</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, the Company has signed several contracts for improvement of Industrial Buildings. Total outstanding commitments
under these contracts were $2,300,187 and $11,227,896 as of December 31, 2018 and 2017, respectively. The Company expected to
pay off all the balances within 1 year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Guarantees
and Indemnities</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company agreed with Baoding Huanrun Trading Co., a major supplier of raw materials, to guarantee certain obligations of this third
party, and as of December 31, 2018 and 2017, the Company guaranteed its long-term loan from financial institutions amounting to
$4,516,843 (RMB31,000,000) and $8,159,459 (RMB56,000,000) that matured at various times in 2023. If Huanrun Trading Co., were
to become insolvent, the Company could be materially adversely affected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(17)
Segment Reporting</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Since
March 10, 2010, Baoding Shengde started its operations and thereafter the Company manages its operations through two business
operating segments: Dongfang Paper, which produces offset printing paper and corrugating medium paper, and Baoding Shengde, which
produces digital photo paper. They are managed separately because each business requires different technology and marketing strategies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company evaluates performance of its operating segments based on net income. Administrative functions such as finance, treasury,
and information systems are centralized. However, where applicable, portions of the administrative function expenses are allocated
between the operating segments based on gross revenue generated. The operating segments do share facilities in Xushui County,
Baoding City, Hebei Province, China. All sales were sold to customers located in the PRC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Summarized
financial information for the two reportable segments is as follows:&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">December 31, 2018</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Dongfang</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Baoding</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Not&nbsp;Attributable</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Elimination of</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Enterprise-wide,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Paper</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Shengde</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">to&nbsp;Segments</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Inter-segment</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">consolidated</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-indent: -9pt; padding-left: 9pt">Revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">86,733,136</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">13,622</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">86,746,758</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,823,725</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,324</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,820,401</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,557,960</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">732,959</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">14,290,919</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Loss from &nbsp;impairment and disposal of property, plant
    and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,881</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,894,461</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,904,342</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,234</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">398</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36,632</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,318,252</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">173,867</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,492,119</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Income tax expense(benefit)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,623,468</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(235,649</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,189</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,850,928</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Net income (loss)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(5,029,497</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(4,612,001</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(904,186</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(10,545,684</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total Assets</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">183,987,100</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">19,068,788</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">20,122</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">203,076,010</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31, 2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dongfang</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Baoding</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Not&nbsp;Attributable</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Elimination
    of</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Enterprise-wide,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paper</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shengde</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">to&nbsp;Segments</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inter-segment</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">consolidated</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 40%; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenues</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">117,023,578</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">117,023,578</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
    profit</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">19,955,951</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">19,955,951</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Depreciation
    and amortization</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">13,719,661</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">914,119</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">14,633,780</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loss
    from impairment and disposal of property, plant and equipment</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,896,320</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,071,969</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,968,289</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest
    income</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">29,565</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,025</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">34,590</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest
    expense</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,320,147</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">113,623</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,433,770</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Income
    tax expense(benefit)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,544,069</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(887,769</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,528</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">662,828</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    income (loss)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,746,326</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2,293,731</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">(792,807</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,659,788</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">192,620,887</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">26,363,435</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,159</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif">218,989,481</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(18)
Concentration and Major Customers and Suppliers</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018 and 2017, the Company had no single customer contributed over 10% of total sales. &nbsp;For
the year ended December 31, 2018, the Company had two major suppliers that accounted for 82% and 7% of total purchases by the
Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the year ended December 31, 2017, the Company had two major suppliers that accounted for 69% and 8% of its total purchases.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(19)
Concentration of Credit Risk</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
instruments for which the Company is potentially subject to concentration of credit risk consist principally of cash. The Company
places its cash in reputable financial institutions in the PRC and the United States. Although it is generally understood that
the PRC central government stands behind all of the banks in China in the event of bank failure, there is no deposit insurance
system in China that is similar to the protection provided by the Federal Deposit Insurance Corporation (&ldquo;FDIC&rdquo;) of
the United States as of December 31, 2018 and December 31, 2017. On May 1, 2015, the new &ldquo;Deposit Insurance Regulations&rdquo;
was effective in the PRC that the maximum protection would be up to RMB500,000 (US$72,852) per depositor per insured financial
intuition, including both principal and interest. For the cash placed in financial institutions in the United States, the Company&rsquo;s
U.S. bank accounts are all fully covered by the FDIC insurance as of December 31, 2018 and 2017, respectively, while for the cash
placed in financial institutions in the PRC, the balances exceeding the maximum coverage of RMB500,000 amounted to RMB80,774,719
(US$11,769,250) as of December 31, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(20)
Risks and Uncertainties</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging is subject to substantial risks from, among other things, intense competition associated with the industry in general,
other risks associated with financing, liquidity requirements, rapidly changing customer requirements, foreign currency exchange
rates, and operating in the PRC under its various laws and restrictions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(21)
Recent Accounting Pronouncements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
January 2016, the FASB issued ASU No. 2016-01, &ldquo;Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement
of Financial Assets and Financial Liabilities&rdquo; (&ldquo;ASU 2016-01&rdquo;). The amendments in this update require all equity
investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted
for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also
require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability
resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value
in accordance with the fair value option for financial instruments. In addition the amendments in this update eliminate the requirement
to disclose the method(s) and significant assumptions used to estimate the fair value that are required to be disclosed for financial
instruments measured at amortized cost on the balance sheet for public entities. For public business entities, the amendments
in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal
years. Except for the early application guidance discussed in ASU 2016-01, early adoption of the amendments in this update is
not permitted. We do not expect the adoption of ASU 2016-01 to have a material impact on our consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
February 2016, the FASB issued ASU No. 2016-02, &ldquo;Leases (Topic 842)&rdquo; (&ldquo;ASU 2016-02&rdquo;). The amendments in
this update create Topic 842, Leases, and supersede the leases requirements in Topic 840, Leases. Topic 842 specifies the accounting
for leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information
to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The main difference
between Topic 842 and Topic 840 is the recognition of lease assets and lease liabilities for those leases classified as operating
leases under Topic 840. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria
for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing
between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance
leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive
income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in ASU 2016-02 are effective for
fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities.
Early application of the amendments in ASU 2016-02 is permitted. We are currently in the process of evaluating the impact of the
adoption of ASU 2016-02 on our consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
June 2016, the FASB issued ASU No. 2016-13, &ldquo;Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses
on Financial Instruments&rdquo; (&ldquo;ASU 2016-13&rdquo;). Financial Instruments-Credit Losses (Topic 326) amends guidelines
on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at
amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an
entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that
is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale
debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit
losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net
investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities,
trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial
assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective
for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating
the impact of the adoption of ASU 2016-13 on our consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(22)
Subsequent Event</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(23)
Summarized Quarterly Financial Data (Unaudited)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quarterly
financial information for 2018 and 2017 is as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Quarter</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 1.5pt solid">2018</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">First</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Second</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Third</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Fourth</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%">Revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">1,888,194</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">33,149,190</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">26,723,657</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">24,985,717</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Gross (loss) profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(695,308</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,015,422</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,259,343</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,240,944</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Loss from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,519,478</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,730</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,570,353</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,080,753</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net (loss) income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,086,276</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109,994</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,404,962</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,164,440</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Net income per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Basic</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-0.19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.005</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-0.07</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-0.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Diluted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-0.19</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.005</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-0.07</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-0.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quarter</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">First</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Second</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Third</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fourth</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 52%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenues</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">25,289,659</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">22,787,683</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">33,507,053</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">35,439,183</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
    profit</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,653,920</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,464,666</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,221,288</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,616,077</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Income
    from operations</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,871,578</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">764,016</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,719,550</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,674,877</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    income(loss)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,707,869</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">15,917</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,572,335</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1,636,333</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net income per
    share:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Basic</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.08</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.001</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.07</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-0.076</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Diluted</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.08</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.001</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.07</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-0.076</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<B>&nbsp;</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(24)
Condensed Financial Information of the Parent Company</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
condensed financial statements of IT Tech Packaging Inc. (&ldquo;ITP&rdquo;, the &ldquo;parent company&rdquo;) have been prepared
in accordance with accounting principles generally accepted in the United States of America. Under the PRC laws and regulations,
the Company&rsquo;s PRC subsidiaries are restricted in their ability to transfer certain of their net assets to the parent company
in the form of dividend payments, loans or advances. The amounts restricted include paid-in capital, capital surplus and statutory
reserves, as determined pursuant to PRC generally accepted accounting principles, totaling $45,589,643 as of December 31, 2018
and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following represents condensed unconsolidated financial information of the parent company only:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CONDENSED
BALANCE SHEETS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">December&nbsp;31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">ASSETS</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current Assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash
    and cash equivalents</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,723</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,158</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prepayments
    and other current assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">17,400</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    current assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,123</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,158</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Investment
    in subsidiaries</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">170,520,446</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">188,894,696</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">170,520,446</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">188,899,854</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">LIABILITIES
    AND STOCKHOLDERS&rsquo; EQUITY</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current
    Liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Inter-company
    payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,990,654</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,567,962</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accrued
    payroll and employee benefit</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accrued
    liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Income
    tax payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6,528</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    current liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,990,654</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,574,490</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,990,654</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,574,490</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    stockholders&rsquo; equity</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">166,529,792</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">185,325,364</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Liabilities and Stockholders&rsquo; Equity</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">170,520,446</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">188,899,854</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
TECH PACKAGING, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CONDENSED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Revenue</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Selling,
    general and administrative expenses</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">895,995</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">402,579</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loss
    from Operations</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(895,995</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(402,579</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Equity
    in (loss)/earnings of unconsolidated subsidiaries</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(9,641,498</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,068,895</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other
    Income (Expense)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Loss)/Income
before Income Taxes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10,537,493</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,666,316</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provision
    for Income Taxes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(8,189</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(6,528</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    Income</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(10,545,682</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,659,788</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other
    comprehensive income /(loss)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(9,974,338</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,910,190</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Comprehensive Income (loss)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(19,298,598</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,569,978</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>CONDENSED
STATEMENTS OF CASH FLOWS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year
    Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">December
    31,</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    Cash (Used in) Provided by Operating Activities</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(425,127</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(402,579</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    Cash Used in Investing Activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    Cash Provided by Financing Activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">422,692</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">406,280</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    Increase (Decrease) in Cash and Cash Equivalents</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2,435</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,701</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash
    and Cash Equivalents - Beginning of Year</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,158</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,457</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash
    and Cash Equivalents - End of Year</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,723</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,158</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>BASIS
OF PRESENTATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
condensed financial information has been prepared using the same accounting policies as set out in the Company&rsquo;s consolidated
financial statements except that the parent company has used equity method to account for its investments in the subsidiaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><A NAME="a_014"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
March 23, 2018, we dismissed our principal independent accountant, BDO China Shu Lun Pan Certified Public Accountants LLP (&ldquo;BDO&rdquo;)
from its engagement with the Company, which dismissal was effective immediately.&nbsp;The decision to dismiss BDO as the Company&rsquo;s
principal independent accountant was approved by the Audit Committee of the Company on March 23, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
were no disagreements between the Company and BDO on any matter of accounting principles or practices, financial statement disclosure,
or auditing scope or procedure, within the Company&rsquo;s two most recent fiscal years ended December 31, 2017 and subsequently
up to the date of dismissal which disagreements that, if not resolved to BDO&rsquo;s satisfaction, would have caused BDO to make
reference to the subject matter of the disagreement in connection with its report issued in connection with the audit of the Company&rsquo;s
financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">None
of the reportable events described under Item 304(a)(1)(v)(A)-(D) of Regulation S-K occurred within the Company&rsquo;s two most
recent fiscal years ended December 31, 2018and subsequently up to the date of dismissal.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">BDO&rsquo;s
report on the Company&rsquo;s financial statements for each of the fiscal years ended December 31, 2016 and 2015 contained a modification
by BDO raising substantial doubt of the Company&rsquo;s ability to continue as a going concern. This modification in BDO&rsquo;s
report for each of the fiscal year 2016 and 2015 financial statements was based on the Company&rsquo;s working capital deficit.
BDO&rsquo;s reports did not contain any other adverse opinion or disclaimer of opinion and were not otherwise qualified or modified
as to uncertainty, audit scope or accounting principles.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company provided BDO with a copy of the Form 8-K including the disclosure above before its filing with the SEC, providing BDO
with the opportunity to furnish the Company with a letter addressed to the SEC containing any new information, clarification of
the Company&rsquo;s expression of its views, or the respect in which BDO does not agree with the statements contained herein.
A letter from BDO dated March 28, 2018 was attached such Form 8-K filed with the SEC on March 29, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
March 26, 2018, we engaged WWC, P.C. Certified Accountants (&ldquo;WWC&rdquo;) to serve as our principal independent accountant,
effective immediately.The decision to engage WWC as the Company&rsquo;s principal independent accountant was approved by the Audit
Committee of the Company on March 23, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">During
the Company&rsquo;s two most recent fiscal years, and any subsequent interim period prior to engaging WWC, the Company did not
consult with WWC regarding (i) the application of accounting principles to a specific completed or proposed transaction, or the
type of audit opinion that might be rendered on the Company&rsquo;s consolidated financial statements and no written or oral advice
was provided by WWC that was an important factor considered by the Company in reaching a decision as to the accounting, auditing
or financial reporting issue or (ii) any matter that was either the subject of a disagreement or event as set forth in Item 304(a)(1)(iv)
or Item 304(a)(1)(v) of Regulation S-K.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_015"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;9A.
Controls and Procedures</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule
13a-15(e)) under the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in the
reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time specified
in the Commission&rsquo;s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed
to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act
is accumulated and communicated to the issuer&rsquo;s management, including its principal executive officer or officers and principal
financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required
disclosure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to Rule 13a-15(b) under the Exchange Act, the Company carried out an evaluation with the participation of the Company&rsquo;s
management, including Zhenyong Liu, the Company&rsquo;s Chief Executive Officer (&ldquo;CEO&rdquo;), and Jing Hao, the Company&rsquo;s
Chief Financial Officer (&ldquo;CFO&rdquo;), of the effectiveness of the Company&rsquo;s disclosure controls and procedures (as
defined under Rule 13a-15(e) under the Exchange Act) as of December 31, 2018. Based upon that evaluation, the Company&rsquo;s
CEO and CFO concluded that the Company&rsquo;s disclosure controls and procedures were effective to ensure that information required
to be disclosed by the Company in the reports that the Company files or submits under the Exchange Act, is recorded, processed,
summarized and reported, within the time periods specified in the SEC&rsquo;s rules and forms, and that such information is accumulated
and communicated to the Company&rsquo;s management, including the Company&rsquo;s CEO and CFO, as appropriate, to allow timely
decisions regarding required disclosure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Management
conducted an assessment of the effectiveness of the Company&rsquo;s internal control over financial reporting as of December 31,
2018. In making this assessment, management used the framework set forth in <I>Internal Control&nbsp;- Integrated Framework (2013)
</I>issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this assessment, management has determined
that, as of December 31, 2018, the Company&rsquo;s internal control over financial reporting was effective.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
annual report does not include an attestation report of its registered independent public accounting firm regarding the Company&rsquo;s
internal control over financial reporting because the Company is not required to include such attestation report in this annual
report.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Changes
in internal controls</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
management, with the participation of our CEO and CFO, performed an evaluation as to whether any change in our internal controls
over financial reporting occurred during the year ended December 31, 2018.&nbsp;&nbsp;Based on that evaluation, our CEO and CFO
concluded that no change occurred in the Company&rsquo;s internal controls over financial reporting during the quarter ended December
31, 2018 that has materially affected, or is reasonably likely to materially affect, the Company&rsquo;s internal controls over financial
reporting.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_016"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item&nbsp;9B.
Other Information</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">None.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_017"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PART
III</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_018"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
10. Directors, Executive Officers and Corporate Governance</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Set
forth below is certain information regarding our directors and executive officers. Our Board of Directors is comprised of five
directors. There are no family relationships between any of our directors or executive officers. Each of our directors is elected
to serve until the next annual meeting of our stockholders and until his successor is elected and qualified or until such director&rsquo;s
earlier death, removal or termination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table sets forth certain information with respect to our directors and executive officers:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 30%; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 11%; border-bottom: Black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Age</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 57%; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Position/Title</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Zhenyong Liu</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">55</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Executive
    Officer and Chairman of the Board</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jing Hao</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">35</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Financial
    Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dahong Zhou</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">39</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Marco Ku Hon
    Wai</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">44</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Wenbing Christopher
    Wang</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">47</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fuzeng Liu</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">69</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lusha Niu</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">39</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have two classes of directors with each class elected in a different calendar year from the calendar year in which the other class
of directors are elected. All directors are elected for a two-year term. The directors initially elected in Class I, Marco Ku
Hon Wai and Wenbing Christopher Wang, will serve until the annual meeting of stockholders in 2019 and until their respective successors
have been elected and have qualified, or until their earlier resignation, removal or death. The directors initially elected in
Class II, Zhenyong Liu, Fuzeng Liu and Lusha Niu will serve until the annual meeting of stockholders in 2020 and until their respective
successors have been elected and have qualified, or until their earlier resignation, removal or death. Our officers serve at the
discretion of our Board of Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Set
forth below is biographical information about our current directors and executive officers:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Zhenyong
Liu</I>. Mr. Zhenyong Liu became a member of the Board of Directors, and was appointed as Chairman of the Board of Directors on
November 30, 2007. Mr. Liu has also served as the Company&rsquo;s Chief Executive Officer since November 16, 2007, and serves as Chairman
of Hebei Baoding Dongfang Paper Milling Company Limited (Dongfang Paper), a position he has held since 1996. From 1990 to 1996,
he served as Plant Director of Xinxin Paper Milling Factory in Xushui District. Mr. Liu served as General Manager of the East
Central Household Appliance Purchases and Supply Station from 1980 to 1989.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Jing
Hao</I>. Ms. Jing Hao was appointed as our Chief Financial Officer on November 3, 2014. Ms. Hao previously served as the Company&rsquo;s
Chief Financial Officer between November 2007 and April 2009. In addition, Ms. Hao has served as Chief Financial Officer of Hebei
Baoding Dongfang Paper Milling Company Limited (Dongfang Paper) since 2006. Prior to that, she was Manager of Finance for Dongfang
Paper from 2005 to 2006.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Dahong
Zhou</I>.&nbsp;Ms. Dahong Zhou was appointed as our Secretary on November 16, 2007. Ms. Zhou also serves as Executive Manager
of Hebei Baoding Dongfang Paper Milling Company Limited (Dongfang Paper), a position she has held since 2006.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Marco
Ku Hon Wai.&nbsp;</I>Mr. Marco Ku Hon Wai has served on the Boardof Directors since November 3, 2014. Mr. Ku is the founder of
Sensible Investment Company Limited, an investment consulting firm based in Hong Kong founded in 2013. He was previously Chief
Financial Officer of China Marine Food Group Limited (OTC: CMFO) from July 2007 to October 2013. Prior to his position at China
Marine Food Group Limited, Mr. Ku co-founded KISS Catering Group, a food and beverage business in Beijing from October 2005 to
April 2007. Mr. Ku worked at KPMG LLP from 1996 to 2000, where his last held position was Assistant Manager. Mr. Ku received a
bachelor&rsquo;s degree in finance from the Hong Kong University of Science and Technology in 1996, and is currently a fellow
member of the Hong Kong Institute of Certified Public Accountants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Wenbing
Christopher Wang</I>.&nbsp;Mr. Wenbing Christopher Wang has served on the Board of Directors since October 28, 2009. Mr. Wang
has also been serving as President and Director of Fushi Copperweld, Inc. (&ldquo;Fushi&rdquo;) since January 21, 2008.&nbsp;&nbsp;Mr.
Wang served as Fushi&rsquo;s Chief Financial Officer from December 13, 2005 to August 31, 2009.&nbsp;&nbsp;Prior to Fushi,&nbsp;Mr.
Wang worked for Redwood Capital, Inc., China Century Investment Corporation, Credit Suisse First Boston and VC China in various
capacities.&nbsp;&nbsp;Fluent in both English and Chinese, Mr. Wang holds a master&rsquo;s degree in business administration and
finance and corporate accounting from Simon Business School of University of Rochester.&nbsp;&nbsp;Mr. Wang was named one of the
top ten CFO&rsquo;s of 2007 in&nbsp;China by CFO magazine.&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Fuzeng
Liu</I>.&nbsp;Mr. Fuzeng Liu has been a member of the Board of Directors since November 30, 2007.&nbsp;&nbsp;Mr. Liu has also
served as Vice President of Dongfang Paper since 2002.&nbsp;&nbsp;Previously, he served as Deputy Secretary of the Traffic Bureau
of Xushui District from 1992 to 2002 and as Party Secretary of Dayin Town,Xushui District from 1988 to 1992.Mr. Liu also served
as Head of the Cuizhuang Town, Xushui District from 1984 to 1988.&nbsp;&nbsp;From 1977 to 1984, Mr. Liu worked at the committee
office of Xushui District.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 41.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Lusha
Niu</I>. Ms. Niu has been a member of the Board of Directors since October12, 2016. Ms. Niu is a public relations veteran with
strong background in international business and finance. Since September 2013, Ms. Niu has been the Director of Corporate Communications
and Public Affairs, Asia Lead of Financial Communication at MSLGROUP, a global public communications firm. From August 2008 until
August 2013, Ms. Niu was an Associate Director at APCO Worldwide, a Washington D.C. based global public affairs consulting firm.
Ms. Niu also served as a Consulting Analyst with BDA Consulting, advising global institutional investors on their China deal strategy.
Ms. Niu holds a Master&rsquo;s degree in Finance from the University of Colorado.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Board of Directors believes that each of the Company&rsquo;s directors is highly qualified to serve as a member of the Board.
Each of the directors has contributed to the mix of skills, core competencies and qualifications of the Board of Directors. When
evaluating candidates for election to the Board, the Nominating Committee seeks candidates with certain qualities that it believes
are important, including integrity, an objective perspective, good judgment, and leadership skills.&nbsp;&nbsp;Our directors are
highly educated and have diverse backgrounds and talents and extensive track records of success in what we believe are highly
relevant positions.&nbsp;&nbsp;Some of our directors have served in our operating entity, Dongfang Paper, for many years and benefit
from an intimate knowledge of our operations and corporate philosophy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Committees</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
business, property and affairs are managed by or under the direction of the Board of Directors.&nbsp;&nbsp;Members of the Board
of Directors are kept informed of our business through discussion with the chief executive and financial officers and other officers,
by reviewing materials provided to them and by participating at meetings of the board and its committees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Board of Directors has three committees - the Audit Committee, the Compensation Committee and the Nominating Committee.&nbsp;&nbsp;The
Audit Committee is comprised of Marco Ku Hon Wai, Wenbing Christopher Wang and Lusha Niu, with Mr. Ku serving as chairman.&nbsp;&nbsp;The
Compensation Committee is comprised of Marco Ku Hon Wai, Wenbing Christopher Wang and Lusha Niu, with Ms. Lusha Niu serving as
chairwoman.&nbsp;&nbsp;The Nominating Committee is comprised of Marco Ku Hon Wai, Wenbing Christopher Wang and Lusha Niu, with
Mr. Wenbing Christopher Wang serving as chairman.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Audit Committee is involved in discussions with our independent auditor with respect to the scope and results of our year-end
audit, our quarterly results of operations, our internal accounting controls and the professional services furnished by the independent
auditor. Our Board of Directors has determined that both Mr. Marco Ku Hon Wai and Mr. Wenbing Christopher Wang qualify as audit
committee financial experts and have the accounting or financial management expertise as required under NYSE Rule 303A.07(a).
Our Board of Directors has also adopted a written charter for the audit committee which the audit committee reviews and reassesses
for adequacy on an annual basis.&nbsp;&nbsp;A copy of the audit committee&rsquo;s current charter is available at the our corporate
website at <U>http://www.itpackaging.cn/uploadfile/txyxfh/file/20181029/6367640912345722139375725.pdf</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Compensation Committee oversees the compensation of our chief executive officer and our other executive officers and reviews our
overall compensation policies for employees generally.&nbsp;&nbsp;If so authorized by the Board of Directors, the committee may
also serve as the granting and administrative committee under any option or other equity-based compensation plans which we may
adopt.&nbsp;&nbsp;The Compensation Committee does not delegate its authority to fix compensation; however, as to officers who
report to the chief executive officer, the compensation committee consults with the chief executive officer, who may make recommendations
to the compensation committee.&nbsp;&nbsp;Any recommendations by the chief executive officer are accompanied by an analysis of
the basis for the recommendations.&nbsp;&nbsp;The committee will also discuss compensation policies for employees who are not
officers with the chief executive officer and other responsible officers.&nbsp;&nbsp;&nbsp;A copy of the compensation committee&rsquo;s
current charter is available at our corporate website at <U>http://www.itpackaging.cn/uploadfile/txyxfh/file/20181029/6367640912355880048874958.pdf</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Nominating Committee is involved in evaluating the desirability of and recommending to the board any changes in the size and composition
of the board, evaluation of and successor planning for the chief executive officer and other executive officers.&nbsp;&nbsp;The
qualifications of any candidate for director will be subject to the same extensive general and specific criteria applicable to
director candidates generally.&nbsp;&nbsp;A copy of the nominating committee&rsquo;s current charter is available at our corporate
website at <U>http://www.itpackaging.cn/uploadfile/txyxfh/file/20181029/6367640912356661968874958.pdf</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Code
of Ethics</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have adopted a code of ethics that applies to our principal executive officer, principal financial officer, principal accounting
officer and controller, or persons performing similar functions. The Code of Ethics is currently available at our corporate website
at <U>http://www.itpackaging.cn/uploadfile/txyxfh/file/20181029/6367640912363688526617528.pdf</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 37.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Board
Meetings</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Board of Directors and its committees held the following number of meetings during 2018:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 89%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Board
    of Directors</FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">11</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Audit Committee</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compensation
    Committee</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nominating
    Committee</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
above table includes meetings held by means of a conference telephone call, but not actions taken by unanimous written consent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
director attended at least 75% of the total number of meetings of the Board of Directors and those committees on which he served
during the year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Directors
or Executive Officers involved in Bankruptcy or Criminal Proceedings</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
our knowledge, during the last ten years, none of our directors and executive officers (including those of our subsidiaries) has:</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">had
    a bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either
    at the time of the bankruptcy or within two years prior to that time;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
    convicted in a criminal proceeding or been subject to a pending criminal proceeding, excluding traffic violations and other
    minor offenses;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
    subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction,
    permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities
    or banking activities;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
    found by a court of competent jurisdiction (in a civil action), the SEC, or the Commodities Futures Trading Commission to
    have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated;
    or</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
    the subject to, or a party to, any sanction or order, not subsequently reverse, suspended or vacated, of any self-regulatory
    organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary
    authority over its members or persons associated with a member.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Board
Leadership Structure and Role in Risk Oversight</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
Zhenyong Liu is our chairman and chief executive officer.&nbsp;&nbsp;At the advice of other members of the management or the Board,
Mr. Liu calls meetings of the Board of Directors when necessary.&nbsp;&nbsp;We have three independent directors.&nbsp;&nbsp;Our
Board of Directors has three standing committees, each of which is comprised solely of independent directors with a committee
chair.&nbsp;&nbsp;The Board of Directors believes that the Company&rsquo;s chief executive officer is best situated to serve as
chairman of the Board of Directors because he is the director most familiar with our business and industry and the director most
capable of identifying strategic priorities and executing our business strategy.&nbsp;We believe that this leadership structure
has served the Company well. Our Board of Directors has overall responsibility for risk oversight.&nbsp;&nbsp;The Board of Directors
has delegated responsibility for the oversight of specific risks to the committees as follows:</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 0.5in; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    Audit Committee oversees the Company&rsquo;s risk policies and processes relating to the financial statements and financial
    reporting processes, as well as key credit risks, liquidity risks, market risks and compliance, and the guidelines, policies
    and processes for monitoring and mitigating those risks.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    Compensation Committee oversees the compensation of our chief executive officer and our other executive officers and reviews
    our overall compensation policies for employees.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD>&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    Nominating Committee oversees risks related to the Company&rsquo;s governance structure and processes.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Board of Directors is responsible for approving all related party transactions according to our Code of Ethics. We have not adopted
written policies and procedures specifically for related person transactions.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Compliance
with Section 16(a) of the Securities Exchange Act of 1934</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Section
16(a) of the Exchange Act, requires our executive officers and directors and persons who own more than 10% of a registered class
of our equity securities to file with the SEC initial statements of beneficial ownership, reports of changes in ownership and
annual reports concerning their ownership of our common stock and other equity securities, on Form 3, 4 and 5 respectively. Executive
officers, directors and greater than 10% shareholders are required by the SEC regulations to furnish our company with copies of
all Section 16(a) reports they file.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Based
solely on our review of the copies of such reports received by us, and on written representations by our officers and directors
regarding their compliance with the applicable reporting requirements under Section 16(a) of the Exchange Act, we believe that,
with respect to the fiscal year ended December 31, 2018, our officers and directors, and all of the persons known to us to own
more than 10% of our common stock, filed all required reports on a timely basis.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify"><A NAME="a_019"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
11. Executive Compensation</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following compensation table summarizes the cash and non-cash compensation earned during the years ended December 31, 2018 and
2017 by each person who served as principal executive officer, principal financial officer, and secretary during 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-Equity</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Incentive</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stock</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Option</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Plan</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Salary</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bonus</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Awards(1)</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Awards</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compensation</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name
    and Principal Position</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 32%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Zhenyong
    Liu,</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,178</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">124,178</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chairman,
    CEO</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,684</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,684</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jing
    Hao</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,178</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,800</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">44,978</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">CFO</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,684</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">36,684</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dahong
    Zhou,</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,379</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#12288;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,379</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Secretary</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,446</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,446</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 4%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    value of the Stock Award is determined by multiplying the number of restricted shares issued by the quoted closing price of
    the Company&rsquo;s common stock on the date of the award, which was $0.88 as of September 13, 2018.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 36.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Employment
Agreements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
Zhenyong Liu receives a monthly salary of RMB 20,000 (approximately $3,015). On January 11, 2012, the Company awarded Mr. Zhenyong
Liu 44,326 shares of restricted common stock. These shares of common stock were issued under the 2011 ISP and are valued at $3.45
per share, based on the closing price on the date of the issuance. On December 31, 2013, the Company awarded Mr. Zhenyong Liu
8,000 shares of restricted common stock under the 2011 ISP and 2012 ISP, with a value of $2.66 per share, based on the closing
price on the date of the stock issuance. On September 13, 2018, the Company issued 100,000 shares of common stock to Mr. Zhenyong
Liu under the 2015 Omnibus Equity Incentive Plan with a value of $0.88 per share as of the date of issuance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ms.
Hao began receiving a monthly salary of RMB 20,000 (approximately $3,015) in January 2015. On September 13, 2018, the company
issued 10,000 shares of common stock to Ms. Jing Hao under the 2015 Omnibus Equity Incentive Plan with a value of $0.88 per share
as of the date of issuance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Compensation
of Directors</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table sets forth a summary of compensation paid or entitled to our directors&nbsp;during the fiscal years ended December
31, 2018 and December 31, 2017:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-Equity</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Incentive</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stock</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Option</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Plan</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Salary</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bonus</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Awards</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Awards</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compensation</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name
    and Principal</B> Position</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Year</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">($)</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 32%; font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fuzeng
    Liu</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,844</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,844</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,964</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,964</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Marco
    Ku Hon Wai</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Wenbing
    Christopher Wang</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lusha
    Niu</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2018</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,537</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,537</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2017</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,652</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,652</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Effective
November 1, 2014, Mr. Marco Ku Hon Wai began serving as our director and has received annual compensation of $20,000, payable
on a monthly basis.&nbsp;&nbsp;In addition, the Company agreed to issue Mr. Ku 7,500 shares of its common stock every year under
the Company&rsquo;s stock incentive plan. On January 12, 2016, the Company issued Mr. Ku 7,500 shares restricted common stock
under the 2015 ISP for his services in 2015, with a value of $1.33 per share, based on the closing price on the date of the issuance.
Mr. Ku will be reimbursed for his out-of-pocket expenses incurred in connection with his service to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Effective
October 28, 2009, Mr. Wenbing Christopher Wang has served as our director and has received annual compensation of $20,000, payable
on a monthly basis.&nbsp;&nbsp;Mr. Wang also received 4,000 shares of common stock, a number equal to $20,000 divided by the closing
price of the common stock on October 28, 2009, with piggyback registration rights subordinate to that held by investors in any
past or future private placement of securities. On January 11, 2012, the Company awarded its independent director Mr. Wenbing
Christopher Wang 15,820 shares of restricted common stock. These shares of common stock were issued under the 2011 ISP and are
valued at $3.45 per share, based on the closing price on the date of the issuance. On December 31, 2013, the Company awarded Mr.
Wang 5,000 shares restricted common stock under the 2011 ISP and 2012 ISP for, with a value of $2.66 per share, based on the closing
price on the date of the stock issuance. On January 12, 2016, the Company issued Mr. Wang 5,000 shares restricted common stock
under the 2015 ISP, with a value of $1.33 per share, based on the closing price on the date of the issuance.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
October 12, 2016, Ms. Lusha Niu was elected as our director and receives annual compensation of RMB50,000, payable on a monthly
basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
December 31, 2013, Mr. Fuzeng Liu received 5,000 shares of restricted common stock from our 2011 and 2012 ISPs. The value of the
stock award is determined by the closing price of the Company&rsquo;s common stock on the date of the award, which was $2.66 as
of December 31, 2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other
than the appointments described above, there are no understandings or arrangements between Mr. Ku, Mr. Wang, or Ms. Niu and any
other person pursuant to which Mr. Ku, Mr. Wang, or Ms. Niu was appointed as a director. Mr. Ku, Mr. Wang, and Ms. Niu do not
have any family relationship with any director, executive officer or person nominated or chosen by us to become a director or
executive officer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Outstanding
Equity Awards at Fiscal Year-End</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
were no option exercises in fiscal year of 2018 or options outstanding as of December 31, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Pension
and Retirement Plans</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently,
except for contributions to the PRC government-mandated social security retirement endowment fund for those employees who have
not waived their coverage, we do not offer any annuity, pension or retirement benefits to be paid to any of our officers, directors
or employees. There are also no compensatory plans or arrangements with respect to any individual named above which results or
will result from the resignation, retirement or any other termination of employment with our company, or from a change in our
control.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-indent: 0in; text-align: justify"><A NAME="a_020"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table sets forth certain information with respect to the beneficial ownership of our common stock by (i) any person
or group owning more than 5% of any class of voting securities, (ii) each director, (iii) our Chief Executive Officer and President
and (iv) all executive officers and directors as a group as of December 31, 2018.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Amount
and Nature of Beneficial Ownership</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount&nbsp;and</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nature
    of</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Percentage&nbsp;of</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Beneficial</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name&nbsp;and&nbsp;Address
    of&nbsp;Beneficial&nbsp;Owner</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ownership</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stock</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Zhenyong
    Liu CEO and Director</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,489,167</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24.93</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jing
    Hao CFO</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">14,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dahong
    Zhou Secretary</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Marco
    Ku Hon Wai Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">7,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fuzeng
    Liu Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Wenbing
    Christopher Wang Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">29,820</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lusha
    Niu Director</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
    Directors and Executive Officers as a Group (7 persons)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,549,487</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">25.20</FONT></TD><TD STYLE="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">*
Less than 1% of the Company&rsquo;s issued and outstanding common shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-indent: 0in; text-align: justify"><A NAME="a_021"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
13. Certain Relationships and Related Transactions, and Director Independence</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Loans
from our principal shareholder, Chairman and CEO Mr. Zhenyong Liu</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr
Zhenyong Liu, the Company&rsquo;s CEO has loaned money to Dongfang Paper for working capital purposes over a period of time. On
January 1, 2013, Dongfang Paper and Mr. Zhenyong Liu renewed the three-year term loan previously entered on January 1, 2010, and
extended the maturity date further to December 31, 2015. On December 31, 2015, the Company paid off the loan of $2,249,279, together
with interest of $391,374 for the period from 2013 to 2015. Approximately $373,490 and $392,296 of interest were outstanding to
Mr. Zhenyong Liu, which were recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated
balance sheet as of December 31, 2018 and 2017, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
December 10, 2014, Mr. Zhenyong Liu provided a loan to the Company, amounted to $8,742,278 to Dongfang Paper for working capital
purpose with an interest rate of 4.35% per annum, which was based on the primary lending rate of People&rsquo;s Bank of China.
The unsecured loan was provided on December 10, 2014, and would be originally due on December 10, 2017. During the year of 2016,
the Company repaid $6,012,416 to Mr. Zhenyong Liu, together with interest of $288,596. In February 2018, the company repaid $3,014,863
to Mr. Zhenyong Liu, together with interest of $20,400. As of December 31, 2018 and 2017, the outstanding loan balance was $nil
and $3,060,818, respectively and the accrued interest was $43,711 and $45,912, respectively, which was recorded in other payables
and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
March 1, 2015, the Company entered an agreement with Mr. Zhenyong Liu which allows Dongfang Paper to borrow from the CEO an amount
up to $17,484,555 (RMB120,000,000) for working capital purposes. The advances or funding under the agreement are due three years
from the date each amount is funded. The loan is unsecured and carries an annual interest rate set on the basis of the primary
lending rate of the People&rsquo;s Bank of China at the time of the borrowing. On July 13, 2015, an unsecured amount of $4,324,636
was drawn from the facility. On October 14, 2016 an unsecured amount of $2,883,091 was drawn from the facility. In February 2018,
the company repaid $1,507,432 to Mr. Zhenyong Liu. The loan would be originally due on July 12, 2018. Mr. Zhenyong Liu agreed
to extend the loan for additional 3 years and the remaining balance will be due on July 12, 2021. On November 23, 2018, the company
repaid $3,768,579 to Mr. Zhenyong Liu, together with interest of $158,651. As of December 31, 2018 and 2017, the outstanding loan
balance were $2,185,569 and $7,652,047, respectively, and the accrued interest was $200,253 and $110,476, respectively, which
was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, total amount of loans due to Mr. Zhenyong Liu were $2,185,569 and $10,712,865, respectively. The
interest expense incurred for such related party loans are $277,411 and $451,626 for the years ended December 31, 2018 and 2017,
respectively. The accrued interest owe to the CEO was approximately $617,454 and $548,684, as of December 31, 2018 and 2017, respectively,
which was recorded in other payables and accrued liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">During
the years ended December 31, 2018 and 2017, the Company borrowed $210,418 and $nil respectively, from shareholders to pay for
various expenses incurred in the United States. The amount is due on demand with no interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sale
of Headquarters Real Properties to a Related Party</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
discussed under the &ldquo;Liquidity and Capital Resources - Relocation of Facilities and Sale of Headquarters Compound Real Properties,&rdquo;
on August 7, 2013, the Company&rsquo;s Audit Committee and the Board of Directors approved the sale of the LUR, the Industrial
Buildings, and the Dormitories to Hebei Fangsheng, a real estate development company owned by Mr. Zhenyong Liu, our Chairman and
Chief Executive Officer and his family, for cash of approximately $2.77 million, $1.15 million, and $4.31 million, respectively.
In November 2012, Hebei Fangsheng provided the Company with a payment of approximately $1,075,606 earnest money deposit payment
in connection with the sale, which would be refunded to Hebei Fangsheng in the event that the parties fail to reach an agreement
on the terms of the Potential Sale. The Company recorded the receipt of the earnest money deposit as a security deposit as of
December 31, 2012 accordingly. In connection with the sale of the Industrial Buildings, Hebei Fangsheng agreed to lease the Industrial
Buildings back to the Company for its original use for a term of up to three years, with an annual rental payment of approximately
$150,743. As of December 31, 2018, the Company accrued rent due to Hebei Fangsheng in the amount of $60,378.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
a condition for the sale of the Dormitories, Hebei Fangsheng agreed that it would act as an agent for the Company, which is not
qualified to sell residential housing units in China, and that it is obligated to sell all of the 132 apartment units in the Dormitories
to qualified employees of the Company at its acquisition price. Hebei Fangsheng further agreed that it would not seek to profit
from the resale of the Dormitories units and would allow the Company to inspect the books and records of the sale upon completion
of the resale of the Dormitories units to ensure the objectives are achieved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
sale was conducted on an arms-length basis, and was reviewed by the Company&rsquo;s Audit Committee and approved by the Board
of Directors as discussed above. The $2.77 million sale price of the LUR was determined by the valuation from a government designated
appraisal, which was 3.35% higher than a second independent appraisal commissioned by the Company. The $1.15 million sale price
of the Industrial Buildings was determined by negotiation between the Company and Hebei Fangsheng and is equal to the appraised
value based on the assumption that the use of the buildings would be continued until they are retired. Based on the assumption
that such buildings would have to be torn down to comply with the re-zoning requirements, a second independent appraisal obtained
by the Company put the value at $0.4 million. Although the Company and Hebei Fangsheng agreed to set the sale price of the Dormitories
at the Company&rsquo;s original construction cost of the three dormitory buildings for $4.31 million, an independent appraisal
shows that the value for the three buildings as employee dormitories was $4.64 million.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the sale of the LUR and the Industrial Buildings, we generated a net gain on disposal of approximately $84,972, net of land appreciation
tax and other transactional taxes and fees paid out of the proceeds of the sale to various local government tax authorities. Sales
of the dormitories, which was classified as assets held for sale as of December 31, 2013, was consummated on August 15, 2014 with
a gain on disposal of approximately $203,620 recognized during the year ended December 31, 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of December 31, 2014, the sale of the LUR, Industrial Buildings, and Dormitories was completed. Net proceeds from the sale of
$8.26 million are used to fund our tissue paper production line construction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 34.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Procedures
for Approval of Related Party Transactions</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Board of Directors is charged with reviewing and approving all potential related party transaction whether or not such transactions
exceed $120,000.&nbsp;&nbsp;We have not adopted other procedures for review, or standards for approval, of such transactions,
but instead review them on a case-by-case basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Director
Independence</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company currently has three independent directors, Marco Ku Hon Wai, Wenbing Christopher Wang, and Lusha Niu, as that term is
defined under the NYSE MKT Company Guide.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-indent: 0in; text-align: justify"><A NAME="a_022"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
14. Principal Accountant Fees and Services</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Audit
Fees</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B>We
incurred approximately $171,600 for professional services rendered by our registered independent public accounting firm, WWC, P.C.,
for the audit and reviews of the Company&rsquo;s financial statements for 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B>We
incurred approximately $150,000 for professional services rendered by our registered independent public accounting firm, WWC,
P.C., for the audit and reviews of the Company&rsquo;s financial statements for 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
incurred approximately $128,554 (RMB840,000) for professional services rendered by our registered independent public accounting
firm, BDO, for the audit of the Company&rsquo;s financial statements for 2017. Further, in 2017, we incurred approximately $91,825
for the reviews of the Company&rsquo;s quarterly reports by BDO.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
incurred approximately $236,739 for professional services rendered by our registered independent public accounting firm, BDO,
for the audit of the Company&rsquo;s financial statements for 2016. Further, in 2016, we incurred approximately $103,714 for the
reviews of the Company&rsquo;s quarterly reports by BDO.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Audit-Related
Fees</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IT Tech Packaging did not incur any audit-related
fees to WWC in 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging did not incur any audit-related fees to BDO in 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Tax
Fees</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I></I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IT Tech Packaging did not incur any tax
fees to WWC in 2018.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging did not incur any tax fees to BDO in 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 29.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>All
Other Fees</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">IT
Tech Packaging did not incur any fees from its registered independent public accounting firm for services rendered to IT Tech
Packaging, other than the services covered in &ldquo;Audit Fees&rdquo; and &ldquo;Audit-Related Fees&rdquo; for the fiscal years
ended December 31, 2018 and 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 37.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">With
respect to the Company&rsquo;s auditing and other non-audit related services rendered by its registered independent public accounting
firm for 2018&nbsp;and 2017, all engagements were entered into pursuant to the audit committee&rsquo;s pre-approval policies and procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_023"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>PART
IV</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-indent: 0in; text-align: justify"><A NAME="a_024"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
15. Exhibits, Financial Statements Schedules</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="width: 1%; font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 90%; border-bottom: Black 1.5pt solid; text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Description
of Exhibit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000119380507002738/e602779_ex10-1.txt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement
    and Plan of Merger, dated October 29, 2007, by and among Carlateral, Inc., CARZ Merger Sub, Inc.,</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000119380507002738/e602779_ex10-1.txt">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dongfang Zhiye Holding Limited, and the shareholders
    of Dongfang Zhiye Holding Limited, incorporated by</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000119380507002738/e602779_ex10-1.txt">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reference from Exhibit 10.1 to the Company&rsquo;s
    Current Report on Form 8-K filed with the Securities and</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000119380507002738/e602779_ex10-1.txt">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange Commission on November 2, 2007.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000109230606000495/ex3-1.txt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Articles
    of Incorporation, incorporated by reference to the exhibit to our report on form SB-2 filed with the SEC on</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000109230606000495/ex3-1.txt">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 4, 2006</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.2</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000119380507003310/e603013_ex3-11.txt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
    of Amendment to Articles of Incorporation, incorporated by reference to the exhibit of the same number</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000119380507003310/e603013_ex3-11.txt">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to our Current Report on form 8-K filed with the
    SEC on December 28, 2007</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.3</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000109230606000495/ex3-2.txt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws,
    incorporated by reference to the exhibit to our report on form SB-2 filed with the SEC on August 4, 2006</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000109230606000495/ex4-1.txt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
    of Common Stock certificate, incorporated by reference to the exhibit to our report on form SB-2 filed</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000109230606000495/ex4-1.txt">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the SEC on August 4, 2006</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.2</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014006404/f8k082714ex4i_orientpaper.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Warrant, incorporated by reference to exhibit 4.1 to our Current Report on Form 8-K filed with the SEC</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014006404/f8k082714ex4i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on September 3, 2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544310000218/d26097_ex10-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Land
    Lease Agreement, dated January 2, 2002, by and between the Company and Xushui District Dayin Township</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544310000218/d26097_ex10-2.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wuji Village Committee and Party Branch, incorporated
    by reference to the exhibit to our amended Annual Report</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544310000218/d26097_ex10-2.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on form 10-K/A filed with the SEC on February 1,
    2010</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.2</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544310000218/d26097_ex10-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Land
    Use Rights Certificate, dated March 10, 2003, incorporated by reference to the exhibit to our amended Annual</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544310000218/d26097_ex10-3.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report on form 10-K/A filed with the SEC on February
    1, 2010</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.3</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exclusive
    Technical Service and Business Consulting Agreement, dated June 24, 2009, by and between Dongfang Paper <FONT STYLE="font-size: 10pt">and
    Baoding Shengde, incorporated by reference to the exhibit to our Current Report on form 8-K filed with the SEC on June 30,
    2009</FONT></FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.4</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-7.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proxy
    Agreement, dated June 24, 2009, by and between Dongfang Paper, Baoding Shengde, and the</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-7.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">shareholders of Dongfang Paper, incorporated by
    reference to the exhibit to our Current Report on form 8-K filed</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-7.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the SEC on June 30, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.5</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-4.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan
    Agreement, dated June 24, 2009, by and between Dongfang Paper, Baoding Shengde, and the</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-4.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">shareholders of Dongfang Paper, incorporated by
    reference to the exhibit to our Current Report on form 8-K filed</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-4.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the SEC on June 30, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.6</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-5.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Call
    Option Agreement, dated June 24, 2009, by and between Dongfang Paper, Baoding Shengde, and the</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-5.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">shareholders of Dongfang Paper, incorporated by
    reference to the exhibit to our Current Report on form 8-K filed</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-5.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the SEC on June 30, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.7</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-6.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share
    Pledge Agreement, dated June 24, 2009, by and between Dongfang Paper, Baoding Shengde, and the</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-6.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">shareholders of Dongfang Paper, incorporated by
    reference to the exhibit to our Current Report on form 8-K filed</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309001637/d25065_ex10-6.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the SEC on June 30, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.8</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544310000266/d26161_ex10-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Call
    Option Agreement Amendment, dated February 10, 2010, by and between Dongfang Paper, Baoding <FONT STYLE="font-size: 10pt">Shengde,
    and the shareholders of Dongfang Paper, incorporated by reference to the exhibit to our Current Report on form 8-K filed with
    the SEC on February 11, 2010</FONT></FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.9</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544310000266/d26161_ex10-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif">Share
    Pledge Agreement Amendment, dated February 10, 2010, by and between Dongfang Paper, Baoding <FONT STYLE="font-size: 10pt">Shengde,
    and the shareholders of Dongfang Paper, incorporated by reference to the exhibit to our Current Report on form 8-K filed with
    the SEC on February 11, 2010</FONT></FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.10</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
    Purchase Agreement dated October 7, 2009 between the Company and the Access America Fund, LP,</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-1.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Renaissance US Growth Investment Trust Plc, RENN
    Global Entrepreneurs Funds, Inc., Premier RENN</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-1.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entrepreneurial Fund Limited, Pope Investments II,
    LLC and Steve Mazur (collectively, the &ldquo;Buyers&rdquo;),</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-1.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporated by reference to the exhibit to our
    Current Report on form 8-K filed with the SEC on October 8, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.11</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-2.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Make
    Good Securities Escrow Agreement dated October 7, 2009 between the Company, the Buyers, Zhenyong Liu</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-2.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and the Sichenzia Ross Friedman Ference LLP (the
    &ldquo;Escrow Agent&rdquo;)., incorporated by reference to the</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-2.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">exhibit to our Current Report on form 8-K filed
    with the SEC on October 8, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.12</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-3.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Escrow
    Agreement dated October 7, 2009 between the Company, the Buyers, Zhenyong Liu and the Escrow Agent,</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-3.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporated by reference to the exhibit to our
    Current Report on form 8-K filed with the SEC on October 8, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.13</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-4.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Registration
    Rights Agreement between the Company and the Buyers dated October 7, 2009, incorporated by</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-4.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reference to the exhibit to our Current Report on
    form 8-K filed with the SEC on October 8, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.14</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-5.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lock-Up
    Agreement between Company and Zhenyong Liu dated October 7, 2009,&nbsp;incorporated by reference to the</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309002522/d25516_ex10-5.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">exhibit to our Current Report on form 8-K filed
    with the SEC on October 8, 2009</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.15</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309003270/d25842_ex10-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset
    Purchase Agreement, dated November 25, 2009, by and between Baoding Shengde Paper Co., Ltd. and</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309003270/d25842_ex10-1.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">HebeiShuangxing Paper Co., Ltd., incorporated by
    reference to the exhibit to our Current Report on form 8-K filed</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114544309003270/d25842_ex10-1.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with the SEC on December 10, 2009</FONT></A></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1.5pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; font-family: Times New Roman, Times, Serif; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Description
of Exhibit</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>

<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.16</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000101376210000667/ex101.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    Agreement, dated March 31, 2010, for the sale of 3,000,000 shares of Common Stock, by and between</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000101376210000667/ex101.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IT Tech Packaging, Inc. and Roth Capital Partners,
    LLC, incorporated by reference to the exhibit to Current Report on</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000101376210000667/ex101.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">form 8-K filed with the SEC on March 31, 2010</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.17</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000101376210000777/ex101.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    Agreement, dated April 9, 2010 by and between Henan Qinyang First Paper Machine Limited and Hebei</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000101376210000777/ex101.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baoding Dongfang Paper Milling Company Limited for
    the purchase of a series of paper machineries and equipment,</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000101376210000777/ex101.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporated by reference to the exhibit to our
    Current Report on form 8-K filed with the SEC on April 12, 2010</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.18</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-22.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter
    from Mr. Zhenyong Liu regarding postponement of interest payments by IT Tech Packaging, Inc., incorporated by</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-22.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reference to Exhibit 10.22 to our Annual Report
    on Form 10-K filed on March 25, 2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.19</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-23.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financing
    Limit Agreement dated as March 3, 2014 between Hebei Baoding Dongfang Paper Milling Co., Ltd. and</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-23.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shanghai Pudong Development Bank Inc., Baoding Branch,
    incorporated by reference to Exhibit 10.23 to our</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-23.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Annual Report on Form 10-K filed on March 25, 2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.20</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-24.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enterprise
    Loan Agreement dated as of July 5, 2013 between Hebei Baoding Dongfang Paper Milling Co., Ltd. and</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-24.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rural Credit Union of Xushui District, incorporated
    by reference to Exhibit 10.24 to our Annual Report on Form</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-24.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10-K filed on March 25, 2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.21</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014006404/f8k082714ex1i_orientpaper.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Engagement
    Letter, dated as of June 3, 2014, between the Company and H.C. Wainwright &amp; Co., LLC and</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014006404/f8k082714ex1i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">amendments dated as of July 1, 2014, August 19,
    2014 and August 25, 2014, incorporated by reference to exhibits</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014006404/f8k082714ex1i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1, 1.2, 1.3 and 1.4 to our Current Report on Form
    8-K filed with the SEC on September 3, 2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.22</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014006404/f8k082714ex10i_orientpaper.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
    Purchase Agreement, dated August 25, 2014, incorporated by reference to exhibit 10.1 to our Current</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014006404/f8k082714ex10i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report on Form 8-K filed with the SEC on September
    3, 2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.23</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014007795/f8k110114ex10i_orientpaper.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Appointment
    Letter dated November 3, 2014, by and between IT Tech Packaging, Inc. and Marco Ku Hon Wai,</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014007795/f8k110114ex10i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporated by reference to exhibit 10.1 to our
    Current Report on Form 8-K filed with the SEC on November 6,</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390014007795/f8k110114ex10i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.24</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-24.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan
    Agreement dated December 2, 2014, by and between IT Tech Packaging, Inc. and Zhenyong Liu, incorporated by</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420414017612/v372435_ex10-24.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reference to Exhibit 10.24 to our Annual Report
    on Form 10-K filed on March 25, 2014.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.25</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390015002051/f10k2014ex10xxv_orientpaper.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loan
    Agreement dated March 1, 2015, by and between IT Tech Packaging, Inc. and Zhenyong Liu, incorporated by</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390015002051/f10k2014ex10xxv_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reference to Exhibit 10.25 to our Annual Report
    on Form 10-K filed on March 25, 2015.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.26</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390015005316/f8k070115ex10i_orientpaper.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement
    dated July 1, 2015, among China Orient, Hebei Baoding Dongfang Paper Milling Company Limited,</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390015005316/f8k070115ex10i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baoding Shengde Paper Co., Ltd., Zhenyong Liu, Xiaodong
    Liu, and Shuangxi Zhao, incorporated by reference to</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000121390015005316/f8k070115ex10i_orientpaper.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit 10.1 to our Current Report on Form 8-K filed
    with the SEC on July 22, 2015&nbsp;&nbsp;&nbsp;</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">14.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420413015600/v337887_ex14-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Code
    of Ethics and Business Conduct, incorporated by reference to the Exhibit 14.1 to our Annual Report on Form</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420413015600/v337887_ex14-1.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10-K filed with the SEC on March 18, 2013</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">21.1</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420411014970/v214648_ex21-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lists
    of Subsidiaries, incorporated by reference to the exhibit to our Annual Report on Form 10-K filed with the</FONT></A><A HREF="http://www.sec.gov/Archives/edgar/data/1358190/000114420411014970/v214648_ex21-1.htm">
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC on March 15, 2011</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">23.1*</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="f10k2018ex23-1_ittechpack.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of WWC, P.C. Certified Accountants.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">31.1*</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="f10k2018ex31-1_ittechpack.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification
    Required Under Section 302 of Sarbanes-Oxley Act of 2002.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">31.2*</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="f10k2018ex31-2_ittechpack.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification
    Required Under Section 302 of Sarbanes-Oxley Act of 2002.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">32.1*</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="f10k2018ex32-1_ittechpack.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification
    Required Under Section 906 of Sarbanes-Oxley Act of 2002.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">32.2*</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><A HREF="f10k2018ex32-2_ittechpack.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certification
    Required Under Section 302 of Sarbanes-Oxley Act of 2002.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">101.INS</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL
    Instance Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">101.SCH</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL
    Schema Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">101.CAL</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL
    Calculation Linkbase Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">101.LAB</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL
    Label Linkbase Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">101.PRE</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL
    Presentation Linkbase Document</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">101.DEF</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">XBRL
    Definition Linkbase Document</FONT></TD></TR>
</TABLE>

<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<FONT STYLE="font-family: Times New Roman, Times, Serif">* Filed herewith.</FONT>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><A NAME="a_025"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;Item
16 Form 10-K Summary.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Not
applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 10pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><A NAME="a_026"></A><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date:&nbsp;&nbsp;March
7, 2019</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>IT
    TECH PACKAGING, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="width: 60%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 4%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 36%; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
    Zhenyong Liu</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Zhenyong Liu</FONT></TD></TR>
<TR STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Executive
    Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the dates indicated.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 31.9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; width: 29%; border-bottom: Black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 45%; border-bottom: Black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Title</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 24%; border-bottom: Black 1.5pt solid; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Date</B></FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
    Zhenyong&nbsp;Liu</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief&nbsp;Executive&nbsp;Officer&nbsp;and&nbsp;Chairman&nbsp;of&nbsp;the
    Board&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
    7, 2019</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Zhenyong&nbsp;Liu</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(principal&nbsp;executive&nbsp;officer)</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
    Jing Hao</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief&nbsp;Financial&nbsp;Officer</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
    7, 2019</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Jing
    Hao</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">(principal&nbsp;financial
    and&nbsp;accounting&nbsp;officer)</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
    Fuzeng Liu</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
    7, 2019</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Fuzeng
    Liu</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
    Marco Ku Hon Wai</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
    7, 2019</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Marco
    Ku Hon Wai</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
    Wenbing Christopher Wang</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
    7, 2019</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Wenbing
    Christopher Wang</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/
    Lusha Niu</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">March
    7, 2019</FONT></TD></TR>
<TR STYLE="font-family: Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lusha
    Niu</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: center; font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">53</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>f10k2018ex23-1_ittechpack.htm
<DESCRIPTION>CONSENTOF WWC, P.C. CERTIFIED ACCOUNTANTS
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="ex23-1img_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>Consent of
Independent Registered Public Accounting Firm</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Orient Paper, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">We hereby consent to the
incorporation by reference in the Registration Statements on Form S-3 (No. 333- 223160) of IT Tech Packaging, Inc. of our report
dated March 07, 2019, relating to the consolidated financial statements of IT Tech Packaging, Inc. and its subsidiaries and variable
interest entity which appears in this Form 10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><IMG SRC="ex23-1img_002.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">WWC, P.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Certified Public Accountants</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">San Mateo, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">March 07, 2019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="ex23-1img_003.jpg" ALT=""><BR STYLE="clear: both"></P>



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<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>f10k2018ex31-1_ittechpack.htm
<DESCRIPTION>CERTIFICATION
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL EXECUTIVE
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 302 OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Zhenyong Liu, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">1.&nbsp;</TD>
    <TD STYLE="width: 96%; text-align: justify">I have reviewed this annual report on Form 10-K of IT Tech Packaging, Inc.;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">2.&nbsp;</TD>
    <TD STYLE="width: 96%; text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">3.&nbsp;</TD>
    <TD STYLE="width: 96%; text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this&nbsp;report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">4.</TD>
    <TD STYLE="width: 96%; text-align: justify">The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">a)</TD>
    <TD STYLE="width: 92%; text-align: justify">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">b)</TD>
    <TD STYLE="width: 92%; text-align: justify">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">c)</TD>
    <TD STYLE="width: 92%; text-align: justify">evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">d)</TD>
    <TD STYLE="width: 92%; text-align: justify">disclosed in this annual report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">5.&nbsp;</TD>
    <TD STYLE="width: 96%; text-align: justify">The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent function):</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">a)</TD>
    <TD STYLE="width: 92%; text-align: justify">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">b)</TD>
    <TD STYLE="width: 92%; text-align: justify">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal controls over financial reporting.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">Dated: March 7, 2019</TD>
    <TD STYLE="width: 4%; text-align: justify">By:</TD>
    <TD STYLE="width: 36%; border-bottom: Black 1.5pt solid; text-align: justify">/s/ Zhenyong Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Zhenyong Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(principal executive officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>4
<FILENAME>f10k2018ex31-2_ittechpack.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL EXECUTIVE
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 302 OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Jing Hao, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">1.&nbsp;</TD>
    <TD STYLE="width: 96%; text-align: justify">I have reviewed this annual report on Form 10-K of IT Tech Packaging, Inc.;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">2.&nbsp;</TD>
    <TD STYLE="width: 96%; text-align: justify">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">3.</TD>
    <TD STYLE="width: 96%; text-align: justify">Based on my knowledge, the financial statements, and other financial information included in this&nbsp; report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">4.</TD>
    <TD STYLE="width: 96%; text-align: justify">The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">a)</TD>
    <TD STYLE="width: 92%; text-align: justify">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">b)</TD>
    <TD STYLE="width: 92%; text-align: justify">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">c)</TD>
    <TD STYLE="width: 92%; text-align: justify">evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">d)</TD>
    <TD STYLE="width: 92%; text-align: justify">disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">5.&nbsp;</TD>
    <TD STYLE="width: 96%; text-align: justify">The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent function):</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">a)</TD>
    <TD STYLE="width: 92%; text-align: justify">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify">b)</TD>
    <TD STYLE="width: 92%; text-align: justify">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal controls over financial reporting.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">Dated: March 7, 2019</TD>
    <TD STYLE="width: 4%; text-align: justify">By:</TD>
    <TD STYLE="width: 36%; border-bottom: Black 1.5pt solid; text-align: justify">/s/ Jing Hao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Jing Hao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(principal financial and accounting officer )</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>5
<FILENAME>f10k2018ex32-1_ittechpack.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 U.S.C. SECTION 1350,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AS ADOPTED PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 906 OF THE SARBANES-OXLEY ACT
OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 29.7pt">In connection with
the Annual Report of IT Tech Packaging, Inc. (the &ldquo;Company&rdquo;) on Form 10-K for the period ended December 31, 2018, as
filed with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Zhenyong Liu, Chief Executive
Officer of the Company, certify, pursuant to 18 U.S.C. section&nbsp;1350 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">(1)</TD>
    <TD STYLE="width: 96%; text-align: justify">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities&nbsp;Exchange Act of 1934; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">(2)</TD>
    <TD STYLE="width: 96%; text-align: justify">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A signed original of this written statement
required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and
Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing certification is being furnished
solely to accompany the Report pursuant to 18 U.S.C. section 1350 and is not being filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before
or after the date hereof, regardless of any general incorporation language in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">Dated: March 7, 2019</TD>
    <TD STYLE="width: 4%; text-align: justify">By:</TD>
    <TD STYLE="width: 36%; border-bottom: Black 1.5pt solid; text-align: justify">/s/ Zhenyong Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Zhenyong Liu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(principal executive officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>6
<FILENAME>f10k2018ex32-2_ittechpack.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>18 U.S.C. SECTION 1350,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AS ADOPTED PURSUANT TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 906 OF THE SARBANES-OXLEY ACT
OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 29.7pt">In connection with
the Annual Report of IT Tech Packaging, Inc. (the &ldquo;Company&rdquo;) on Form 10-K for the period ended December 31, 2018, as
filed with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Jing Hao, Chief Financial Officer
of the Company, certify, pursuant to 18 U.S.C. section 1350 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">(1)</TD>
    <TD STYLE="width: 96%; text-align: justify">The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -17.6pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify">(2)</TD>
    <TD STYLE="width: 96%; text-align: justify">The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A signed original of this written statement
required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and
Exchange Commission or its staff upon request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing certification is being furnished
solely to accompany the Report pursuant to 18 U.S.C. section 1350 and is not being filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of the Company, whether made before
or after the date hereof, regardless of any general incorporation language in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">Dated: March 7, 2019</TD>
    <TD STYLE="width: 4%; text-align: justify">By:</TD>
    <TD STYLE="width: 36%; border-bottom: Black 1.5pt solid; text-align: justify">/s/ Jing Hao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Jing Hao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(principal financial and accounting officer )</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>





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<DOCUMENT>
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<DOCUMENT>
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    <us-gaap:Capital contextRef="Context_As_Of_24_Jun_2009T00_00_00_TO_24_Jun_2009T00_00_00_BusinessAcquisitionAxis_BaodingShengdeMember" unitRef="USD" decimals="0">10000000</us-gaap:Capital>
    <us-gaap:Capital contextRef="Context_As_Of_30_Jun_2010T00_00_00_TO_30_Jun_2010T00_00_00_BusinessAcquisitionAxis_BaodingShengdeMember" unitRef="USD" decimals="0">60000000</us-gaap:Capital>
    <itp:ServiceFeePercentageOfNetProfit contextRef="Context_As_Of_10_Feb_2010T00_00_00_TO_10_Feb_2010T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="pure" decimals="INF">0.80</itp:ServiceFeePercentageOfNetProfit>
    <itp:PercentageShareOfDistributableProfit contextRef="Context_As_Of_31_Dec_2010T00_00_00_TO_31_Dec_2010T00_00_00" unitRef="pure" decimals="INF">1.00</itp:PercentageShareOfDistributableProfit>
    <itp:PercentageShareOfDistributableProfit contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="pure" decimals="INF">1.00</itp:PercentageShareOfDistributableProfit>
    <invest:InvestmentOptionsExercisePrice contextRef="From2010-01-22to2010-02-10_custom_RMBMember" unitRef="CNY_per_Share" decimals="INF">1</invest:InvestmentOptionsExercisePrice>
    <us-gaap:DebtInstrumentFaceAmount contextRef="Context_As_Of_24_Jun_2009T00_00_00_TO_24_Jun_2009T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="USD" decimals="0">10000000</us-gaap:DebtInstrumentFaceAmount>
    <us-gaap:TerminationLoans contextRef="Context_As_Of_10_Feb_2010T00_00_00_TO_10_Feb_2010T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="USD" decimals="0">10000000</us-gaap:TerminationLoans>
    <us-gaap:TerminationLoans contextRef="Context_As_Of_10_Feb_2010T00_00_00_TO_10_Feb_2010T00_00_00_BusinessAcquisitionAxis_BaodingShengdeMember" unitRef="USD" decimals="0">10000000</us-gaap:TerminationLoans>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="pure" decimals="INF">0.9998</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="pure" decimals="INF">1.00</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_ConcentrationRiskByTypeAxis_SupplierTwoMember" unitRef="pure" decimals="INF">0.07</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_ConcentrationRiskByTypeAxis_SupplierOneMember" unitRef="pure" decimals="INF">0.82</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_ConcentrationRiskByBenchmarkAxis_SalesRevenueNetMember" unitRef="pure" decimals="INF">0.10</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="From2017-01-01to2017-12-31_us-gaap_SalesRevenueNetMember" unitRef="pure" decimals="INF">0.10</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="From2017-01-01to2017-12-31_custom_SupplierTwoMember" unitRef="pure" decimals="INF">0.08</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="From2017-01-01to2017-12-31_custom_SupplierOneMember" unitRef="pure" decimals="INF">0.69</us-gaap:ConcentrationRiskPercentage1>
    <itp:EntityWideAssetsMajorCustomerPercentage contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="pure" decimals="INF">0.9060</itp:EntityWideAssetsMajorCustomerPercentage>
    <itp:EntityWideAssetsMajorCustomerPercentage contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_BusinessAcquisitionAxis_DongfangPaperMember" unitRef="pure" decimals="INF">0.8796</itp:EntityWideAssetsMajorCustomerPercentage>
    <us-gaap:StockholdersEquityReverseStockSplit contextRef="Context_Custom_01_Oct_2007T00_00_00_TO_29_Oct_2007T00_00_00_BusinessAcquisitionAxis_DongfangHoldingMember">Four-for-one</us-gaap:StockholdersEquityReverseStockSplit>
    <itp:RestrictedCashDescription contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">The restriction has been lifted upon the maturity of the notes payable on January 10, 2019.</itp:RestrictedCashDescription>
    <itp:RestrictedCashDescription contextRef="Context_FYE_01_Jan_2017T00_00_00_TO_31_Dec_2017T00_00_00">The restriction has been lifted upon the maturity of the notes payable on January 5, 2018.</itp:RestrictedCashDescription>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">7488437</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">1355703</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PublicUtilitiesInventoryAxis_RecycledPaperBoardMember" unitRef="USD" decimals="0">6337374</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PublicUtilitiesInventoryAxis_BasePaperAndOtherRawMaterialsMember" unitRef="USD" decimals="0">216655</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PublicUtilitiesInventoryAxis_PublicUtilitiesInventoryCoalAndGasMember" unitRef="USD" decimals="0">71674</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PublicUtilitiesInventoryAxis_RecycledWhiteScrapPaperMember" unitRef="USD" decimals="0">862734</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PublicUtilitiesInventoryAxis_RecycledPaperBoardMember" unitRef="USD" decimals="0">412317</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PublicUtilitiesInventoryAxis_BasePaperAndOtherRawMaterialsMember" unitRef="USD" decimals="0">164295</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PublicUtilitiesInventoryAxis_PublicUtilitiesInventoryCoalAndGasMember" unitRef="USD" decimals="0">167230</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryRawMaterials contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PublicUtilitiesInventoryAxis_RecycledWhiteScrapPaperMember" unitRef="USD" decimals="0">611861</us-gaap:InventoryRawMaterials>
    <us-gaap:InventoryFinishedGoods contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">985728</us-gaap:InventoryFinishedGoods>
    <us-gaap:InventoryFinishedGoods contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">1567813</us-gaap:InventoryFinishedGoods>
    <itp:PrepaidLandLease contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">459123</itp:PrepaidLandLease>
    <itp:PrepaidLandLease contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">437114</itp:PrepaidLandLease>
    <us-gaap:OtherPrepaidExpenseCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">183649</us-gaap:OtherPrepaidExpenseCurrent>
    <us-gaap:OtherPrepaidExpenseCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" xsi:nil="true" />
    <us-gaap:OtherAssetsCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">8751</us-gaap:OtherAssetsCurrent>
    <us-gaap:OtherAssetsCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">43905</us-gaap:OtherAssetsCurrent>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">266687858</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">258995387</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_UseRightsMember" unitRef="USD" decimals="0">12479814</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_BuildingAndBuildingImprovementsMember" unitRef="USD" decimals="0">98866703</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_MachineryAndEquipmentMember" unitRef="USD" decimals="0">118670578</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_VehiclesMember" unitRef="USD" decimals="0">593265</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember" unitRef="USD" decimals="0">36077498</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_UseRightsMember" unitRef="USD" decimals="0">11881571</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_BuildingAndBuildingImprovementsMember" unitRef="USD" decimals="0">94127348</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_MachineryAndEquipmentMember" unitRef="USD" decimals="0">147383943</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_VehiclesMember" unitRef="USD" decimals="0">597484</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_ConstructionInProgressMember" unitRef="USD" decimals="0">5005041</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">77299149</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
    <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">91165671</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
    <itp:SaleLeasebackTransactionLeasePeriod contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_LandUseRightsMember">P50Y</itp:SaleLeasebackTransactionLeasePeriod>
    <itp:SaleLeasebackTransactionLeasePeriod contextRef="Context_FYE_01_Jan_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_UseRightsMember">P50Y</itp:SaleLeasebackTransactionLeasePeriod>
    <itp:LeaseExpiration contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_LandUseRightsMember">From 2061 to 2066.</itp:LeaseExpiration>
    <itp:LeaseExpiration contextRef="Context_FYE_01_Jan_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_UseRightsMember">From 2061 to 2066.</itp:LeaseExpiration>
    <us-gaap:PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">7963285</us-gaap:PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments>
    <us-gaap:PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">5782640</us-gaap:PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments>
    <itp:PropertyPlantAndEquipmentLoanDrawnFromBankingFacility contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">6437419</itp:PropertyPlantAndEquipmentLoanDrawnFromBankingFacility>
    <itp:PropertyPlantAndEquipmentLoanDrawnFromBankingFacility contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">5990586</itp:PropertyPlantAndEquipmentLoanDrawnFromBankingFacility>
    <itp:ValueOfLandUseRightPledgedForSaleLeasebackFinancing contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" xsi:nil="true" />
    <itp:ValueOfLandUseRightPledgedForSaleLeasebackFinancing contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">12939899</itp:ValueOfLandUseRightPledgedForSaleLeasebackFinancing>
    <itp:ValueOfLandUseRightPledgedForSaleLeasebackFinancing contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_PropertyPlantAndEquipmentByTypeAxis_LandUseRightsMember" unitRef="USD" xsi:nil="true" />
    <itp:ValueOfLandUseRightPledgedForSaleLeasebackFinancing contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_PropertyPlantAndEquipmentByTypeAxis_LandUseRightsMember" unitRef="USD" decimals="0">4762300</itp:ValueOfLandUseRightPledgedForSaleLeasebackFinancing>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">7560221</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">7197808</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_RuralCreditUnionOfXushuiCountyLoanMember" unitRef="USD" decimals="0">1316152</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_RuralCreditUnionOfXushuiCountyLoanOneMember" unitRef="USD" decimals="0">3826022</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_RuralCreditUnionOfXushuiCountyLoanTwoMember" unitRef="USD" decimals="0">2418047</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_RuralCreditUnionOfXushuiCountyLoanMember" unitRef="USD" decimals="0">1253060</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_RuralCreditUnionOfXushuiCountyLoanOneMember" unitRef="USD" decimals="0">3642615</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_RuralCreditUnionOfXushuiCountyLoanTwoMember" unitRef="USD" decimals="0">2302133</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="AsOf2018-12-31_custom_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">7197808</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermLoansPayable contextRef="AsOf2017-12-31_custom_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">7560221</us-gaap:LongTermLoansPayable>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">2491549</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">131134</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">203986</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">1602751</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">2768388</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive>
    <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">7197808</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear>
    <us-gaap:UnsecuredDebt contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" xsi:nil="true" />
    <us-gaap:UnsecuredDebt contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" xsi:nil="true" />
    <us-gaap:ShortTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_10_Jan_2017T00_00_00_TO_10_Jan_2017T00_00_00_ShortTermDebtTypeAxis_IndustrialAndCommercialBankOfChinaLoanOneMember" unitRef="pure" decimals="INF">0.045675</us-gaap:ShortTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:ShortTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_18_Oct_2017T00_00_00_TO_18_Oct_2017T00_00_00_ShortTermDebtTypeAxis_IndustrialAndCommercialBankOfChinaLoanTwoMember" unitRef="pure" decimals="INF">0.04945</us-gaap:ShortTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:ShortTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LegalEntityAxis_BankOfCangzhouMember" unitRef="pure" decimals="INF">0.00</us-gaap:ShortTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:ShortTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_02_Jan_2018T00_00_00_TO_02_Jan_2018T00_00_00_ShortTermDebtTypeAxis_BankOfCangzhouMember" unitRef="pure" decimals="INF">0.0609</us-gaap:ShortTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:ShortTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_06_Feb_2018T00_00_00_TO_06_Feb_2018T00_00_00_ShortTermDebtTypeAxis_IndustrialAndCommercialBankOfChinaLoanThreeMember" unitRef="pure" decimals="INF">0.054</us-gaap:ShortTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:ShortTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LegalEntityAxis_BankOfCangzhouMember" unitRef="pure" decimals="INF">0.00</us-gaap:ShortTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:ShortTermDebtPercentageBearingFixedInterestRate contextRef="AsOf2018-11-22_custom_IndustrialAndCommercialBankOfChinaLoanFourMember" unitRef="pure" decimals="INF">0.04741</us-gaap:ShortTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:DebtInstrumentMaturityDate contextRef="Context_Custom_05_Jan_2017T00_00_00_TO_10_Jan_2017T00_00_00_ShortTermDebtTypeAxis_IndustrialAndCommercialBankOfChinaLoanOneMember">2018-01-08</us-gaap:DebtInstrumentMaturityDate>
    <us-gaap:DebtInstrumentMaturityDate contextRef="Context_Custom_01_Oct_2017T00_00_00_TO_18_Oct_2017T00_00_00_ShortTermDebtTypeAxis_IndustrialAndCommercialBankOfChinaLoanTwoMember">2018-10-12</us-gaap:DebtInstrumentMaturityDate>
    <us-gaap:DebtInstrumentMaturityDate contextRef="Context_Custom_01_Feb_2018T00_00_00_TO_06_Feb_2018T00_00_00_ShortTermDebtTypeAxis_IndustrialAndCommercialBankOfChinaLoanThreeMember">2019-01-28</us-gaap:DebtInstrumentMaturityDate>
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    <us-gaap:LongTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="pure" decimals="INF">0.0064</us-gaap:LongTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:LongTermDebtPercentageBearingFixedInterestRate contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_TermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="pure" decimals="INF">0.0064</us-gaap:LongTermDebtPercentageBearingFixedInterestRate>
    <us-gaap:LongTermDebtPercentageBearingFixedInterestRate contextRef="AsOf2017-04-20" unitRef="pure" decimals="INF">0.006</us-gaap:LongTermDebtPercentageBearingFixedInterestRate>
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    <itp:LoanExtentionPeriod contextRef="Context_Custom_03_Jul_2013T00_00_00_TO_15_Jul_2013T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember">P5Y</itp:LoanExtentionPeriod>
    <itp:LoanExtentionPeriod contextRef="Context_Custom_01_Apr_2017T00_00_00_TO_20_Apr_2017T00_00_00">P2Y</itp:LoanExtentionPeriod>
    <itp:LoanExtentionPeriod contextRef="Context_Custom_14_Jun_2018T00_00_00_TO_21_Jun_2018T00_00_00">P5Y</itp:LoanExtentionPeriod>
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    <itp:InstallmentRepaymentDescription contextRef="Context_Custom_03_Jul_2013T00_00_00_TO_15_Jul_2013T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember">The Rural Credit Union of Xushui District for a term of 5 years, which was originally due and payable in various installments from December 21, 2013 to July 26, 2018.</itp:InstallmentRepaymentDescription>
    <itp:InstallmentRepaymentDescription contextRef="Context_Custom_01_Apr_2017T00_00_00_TO_20_Apr_2017T00_00_00">The Rural Credit Union of Xushui District for a term of 2 years, which is due and payable in various installments from August 26, 2017 to April 19, 2019.</itp:InstallmentRepaymentDescription>
    <itp:InstallmentRepaymentDescription contextRef="From2014-04-01to2014-04-16_custom_RuralCreditUnionOfXushuiCountyMember">The Rural Credit Union of Xushui District for a term of 5 years, which is payable in various installments from June 21, 2014 to November 18, 2018.</itp:InstallmentRepaymentDescription>
    <itp:InstallmentRepaymentDescription contextRef="From2018-10-20to2018-11-06_custom_RuralCreditUnionOfXushuiCountyMember">The loan was renewed for additional 5 years and will be due and payable in various installments from December 21, 2018 to November 5, 2023.</itp:InstallmentRepaymentDescription>
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    <us-gaap:LoansPayableToBank contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">2418047</us-gaap:LoansPayableToBank>
    <us-gaap:LoansPayableToBank contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LegalEntityAxis_Ruralcreditunionofxushuicountymember1Member" unitRef="USD" decimals="0">3826022</us-gaap:LoansPayableToBank>
    <us-gaap:LoansPayableToBank contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">2302133</us-gaap:LoansPayableToBank>
    <us-gaap:LoansPayableToBank contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">3642615</us-gaap:LoansPayableToBank>
    <us-gaap:LoansPayableToBank contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">3826022</us-gaap:LoansPayableToBank>
    <us-gaap:LoansPayableToBank contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_TermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">1316152</us-gaap:LoansPayableToBank>
    <us-gaap:LoansPayableToBank contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_TermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">1253060</us-gaap:LoansPayableToBank>
    <us-gaap:LongTermLoansFromBank contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">3642615</us-gaap:LongTermLoansFromBank>
    <us-gaap:LongTermLoansFromBank contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LongTermLoansFromBank contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">3060818</us-gaap:LongTermLoansFromBank>
    <us-gaap:LongTermLoansFromBank contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember" unitRef="USD" decimals="0">7652047</us-gaap:LongTermLoansFromBank>
    <us-gaap:LongTermLoansFromBank contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" xsi:nil="true" />
    <us-gaap:LongTermLoansFromBank contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember" unitRef="USD" decimals="0">2185569</us-gaap:LongTermLoansFromBank>
    <us-gaap:InterestExpenseDebt contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">1214708</us-gaap:InterestExpenseDebt>
    <us-gaap:InterestExpenseDebt contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00" unitRef="USD" decimals="0">1196814</us-gaap:InterestExpenseDebt>
    <us-gaap:PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">5782640</us-gaap:PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition>
    <us-gaap:PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LongtermDebtTypeAxis_NewTermLoansMember_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">7963285</us-gaap:PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition>
    <us-gaap:DebtInstrumentInterestRateDuringPeriod contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="pure" decimals="INF">0.0566</us-gaap:DebtInstrumentInterestRateDuringPeriod>
    <us-gaap:DebtInstrumentInterestRateDuringPeriod contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00" unitRef="pure" decimals="INF">0.0527</us-gaap:DebtInstrumentInterestRateDuringPeriod>
    <us-gaap:LiabilitiesNoncurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" decimals="0">1193719</us-gaap:LiabilitiesNoncurrent>
    <us-gaap:LiabilitiesNoncurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LegalEntityAxis_RuralCreditUnionOfXushuiCountyMember" unitRef="USD" xsi:nil="true" />
    <itp:ProceedsFromPaymentsToLoan contextRef="Context_Custom_01_Feb_2018T00_00_00_TO_28_Feb_2018T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">20400</itp:ProceedsFromPaymentsToLoan>
    <itp:ProceedsFromPaymentsToLoan contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">2249279</itp:ProceedsFromPaymentsToLoan>
    <itp:ProceedsFromPaymentsToLoan contextRef="From2018-11-01to2018-11-23_custom_MrZhenyongLiuMember_custom_DongfangPaperMember" unitRef="USD" decimals="0">158651</itp:ProceedsFromPaymentsToLoan>
    <us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">10712865</us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent>
    <us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">2185569</us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent>
    <us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent contextRef="Context_As_Of_10_Dec_2014T00_00_00_TO_10_Dec_2014T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember_LegalEntityAxis_DongfangPaperMember" unitRef="USD" decimals="0">8742278</us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent>
    <us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent contextRef="Context_As_Of_01_Mar_2015T00_00_00_TO_01_Mar_2015T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember" unitRef="USD" decimals="0">17484555</us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent>
    <us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent contextRef="Context_As_Of_13_Jul_2015T00_00_00_TO_13_Jul_2015T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember" unitRef="USD" decimals="0">4324636</us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent>
    <us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent contextRef="Context_As_Of_14_Oct_2016T00_00_00_TO_14_Oct_2016T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember" unitRef="USD" decimals="0">2883091</us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent>
    <us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent contextRef="AsOf2015-03-01_us-gaap_ChiefExecutiveOfficerMember_custom_RMBMember" unitRef="CNY" decimals="0">120000000</us-gaap:RelatedPartyTransactionDueFromToRelatedPartyCurrent>
    <itp:LoansPayableTerm contextRef="Context_Custom_25_Feb_2015T00_00_00_TO_01_Mar_2015T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember">P3Y</itp:LoansPayableTerm>
    <itp:LoansPayableTerm contextRef="Context_Custom_10_Oct_2016T00_00_00_TO_14_Oct_2016T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember">P3Y</itp:LoansPayableTerm>
    <us-gaap:RelatedPartyTransactionRate contextRef="Context_Custom_01_Dec_2014T00_00_00_TO_10_Dec_2014T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="pure" decimals="INF">0.0435</us-gaap:RelatedPartyTransactionRate>
    <itp:UnsecuredLoanExpirationDate contextRef="Context_Custom_10_Oct_2016T00_00_00_TO_14_Oct_2016T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember">2021-07-12</itp:UnsecuredLoanExpirationDate>
    <itp:UnsecuredLoanExpirationDate contextRef="Context_Custom_01_Dec_2014T00_00_00_TO_10_Dec_2014T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember_LegalEntityAxis_DongfangPaperMember">2017-12-10</itp:UnsecuredLoanExpirationDate>
    <itp:UnsecuredLoanExpirationDate contextRef="Context_Custom_10_Oct_2016T00_00_00_TO_14_Oct_2016T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember">2018-07-12</itp:UnsecuredLoanExpirationDate>
    <us-gaap:InterestPayableCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">548684</us-gaap:InterestPayableCurrent>
    <us-gaap:InterestPayableCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">45912</us-gaap:InterestPayableCurrent>
    <us-gaap:InterestPayableCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember" unitRef="USD" decimals="0">110476</us-gaap:InterestPayableCurrent>
    <us-gaap:InterestPayableCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">43711</us-gaap:InterestPayableCurrent>
    <us-gaap:InterestPayableCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_TitleOfIndividualAxis_ChiefExecutiveOfficerMember" unitRef="USD" decimals="0">200253</us-gaap:InterestPayableCurrent>
    <us-gaap:InterestPayableCurrent contextRef="AsOf2018-11-23_custom_MrZhenyongLiuMember_custom_DongfangPaperMember" unitRef="USD" decimals="0">200253</us-gaap:InterestPayableCurrent>
    <us-gaap:InterestExpenseRelatedParty contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">451626</us-gaap:InterestExpenseRelatedParty>
    <us-gaap:InterestExpenseRelatedParty contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">277411</us-gaap:InterestExpenseRelatedParty>
    <us-gaap:PaymentsForRent contextRef="Context_Custom_01_Aug_2013T00_00_00_TO_07_Aug_2013T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" unitRef="USD" decimals="0">150743</us-gaap:PaymentsForRent>
    <us-gaap:PaymentsForRent contextRef="From2013-08-01to2013-08-07_custom_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember_custom_RMBMember" unitRef="CNY" decimals="0">1000000</us-gaap:PaymentsForRent>
    <us-gaap:OtherAccruedLiabilitiesNoncurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember_LegalEntityAxis_DongfangPaperMember" unitRef="USD" decimals="0">392296</us-gaap:OtherAccruedLiabilitiesNoncurrent>
    <us-gaap:OtherAccruedLiabilitiesNoncurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember_LegalEntityAxis_DongfangPaperMember" unitRef="USD" decimals="0">373490</us-gaap:OtherAccruedLiabilitiesNoncurrent>
    <itp:AssetLeaseTerm contextRef="Context_Custom_01_Aug_2013T00_00_00_TO_07_Aug_2013T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember">P3Y</itp:AssetLeaseTerm>
    <itp:NumberOfDormitoryBuildings contextRef="Context_Custom_01_Aug_2013T00_00_00_TO_07_Aug_2013T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" unitRef="Employee" decimals="INF">3</itp:NumberOfDormitoryBuildings>
    <itp:SalePriceOfLandUseRights contextRef="Context_Custom_01_Aug_2013T00_00_00_TO_07_Aug_2013T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" unitRef="USD" decimals="0">2770000</itp:SalePriceOfLandUseRights>
    <itp:SalePriceOfIndustrialBuilding contextRef="Context_Custom_01_Aug_2013T00_00_00_TO_07_Aug_2013T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" unitRef="USD" decimals="0">1150000</itp:SalePriceOfIndustrialBuilding>
    <us-gaap:LeaseExpirationDate1 contextRef="Context_Custom_01_Aug_2013T00_00_00_TO_07_Aug_2013T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember">2016-08-31</us-gaap:LeaseExpirationDate1>
    <us-gaap:LeaseExpirationDate1 contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_LocalGovernmentMember">2031-12-31</us-gaap:LeaseExpirationDate1>
    <us-gaap:InterestPaid contextRef="Context_FYE_01_Jan_2016T00_00_00_TO_31_Dec_2016T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">288596</us-gaap:InterestPaid>
    <us-gaap:InterestPaid contextRef="Context_FYE_01_Jan_2015T00_00_00_TO_31_Dec_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember" unitRef="USD" decimals="0">391374</us-gaap:InterestPaid>
    <itp:SalePriceOfDormitoryBuildings contextRef="Context_Custom_01_Aug_2013T00_00_00_TO_07_Aug_2013T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" unitRef="USD" decimals="0">4310000</itp:SalePriceOfDormitoryBuildings>
    <us-gaap:LesseeFinanceLeaseRenewalTerm1 contextRef="Context_As_Of_01_Jan_2013T00_00_00_TO_01_Jan_2013T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_MrZhenyongLiuMember">P3Y</us-gaap:LesseeFinanceLeaseRenewalTerm1>
    <us-gaap:LesseeFinanceLeaseRenewalTerm1 contextRef="Context_As_Of_01_Jan_2013T00_00_00_TO_01_Jan_2013T00_00_00_LegalEntityAxis_DongfangPaperMember">P3Y</us-gaap:LesseeFinanceLeaseRenewalTerm1>
    <itp:LeaseTermExtended contextRef="Context_Custom_04_Aug_2016T00_00_00_TO_06_Aug_2016T00_00_00_LegalEntityAxis_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember">P4Y</itp:LeaseTermExtended>
    <us-gaap:DueFromRelatedParties contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" xsi:nil="true" />
    <us-gaap:DueFromRelatedParties contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">210148</us-gaap:DueFromRelatedParties>
    <itp:HandlingChargesOfBankAcceptanceNotesPercentage contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00_LegalEntityAxis_BankOfCangzhouMember" unitRef="pure" decimals="INF">0.0005</itp:HandlingChargesOfBankAcceptanceNotesPercentage>
    <itp:HandlingChargesOfBankAcceptanceNotesPercentage contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00_LegalEntityAxis_BankOfCangzhouMember" unitRef="pure" decimals="INF">0.0005</itp:HandlingChargesOfBankAcceptanceNotesPercentage>
    <us-gaap:DebtInstrumentMaturityDateDescription contextRef="Context_FYE_01_Jan_2017T00_00_00_TO_31_Dec_2017T00_00_00_LegalEntityAxis_BankOfCangzhouMember">The acceptance notes were due and paid off in January 2018.</us-gaap:DebtInstrumentMaturityDateDescription>
    <us-gaap:DebtInstrumentMaturityDateDescription contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00_LegalEntityAxis_BankOfCangzhouMember">The acceptance notes were due and paid off in January 2019.</us-gaap:DebtInstrumentMaturityDateDescription>
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    <us-gaap:AccruedUtilitiesCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">186780</us-gaap:AccruedUtilitiesCurrent>
    <itp:ValueAddedTaxesPayableCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">196395</itp:ValueAddedTaxesPayableCurrent>
    <itp:ValueAddedTaxesPayableCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">520190</itp:ValueAddedTaxesPayableCurrent>
    <us-gaap:AccountsPayableOtherCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">49585</us-gaap:AccountsPayableOtherCurrent>
    <us-gaap:AccountsPayableOtherCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">8788924</us-gaap:AccountsPayableOtherCurrent>
    <us-gaap:AccruedSalesCommissionCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">16992</us-gaap:AccruedSalesCommissionCurrent>
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    <itp:RisksAndUncertaintiesTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(20)&#13;Risks and Uncertainties&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;IT&#13;Tech Packaging is subject to substantial risks from, among other things, intense competition associated with the industry in general,&#13;other risks associated with financing, liquidity requirements, rapidly changing customer requirements, foreign currency exchange&#13;rates, and operating in the PRC under its various laws and restrictions.&lt;/font&gt;&lt;/p&gt;</itp:RisksAndUncertaintiesTextBlock>
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   &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(&#13;    Unaudited)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cash&#13;    and bank balances&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,328,980&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,681,942&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Restricted&#13;    cash&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,642,616&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,121,637&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accounts&#13;    receivable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,876,632&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,843,682&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Inventories&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,906,004&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,431,972&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepayments&#13;    and other current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,219,395&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;646,598&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;23,973,627&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;19,725,831&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Property,&#13;    plant, and equipment, net&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;153,302,061&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;167,727,768&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; 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font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,167,288&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;183,987,100&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; 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   &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Short-term&#13;    bank loans&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;11,802,075&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,192,923&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    portion of long-term loans from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;189,416&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,142,175&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accounts&#13;    payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;629,054&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;422,705&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Notes&#13;    payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,642,616&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,121,637&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Due&#13;    to related parties&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;203,188&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;60,378&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    payroll and employee benefits&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;208,660&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;227,163&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Other&#13;    payables and accrued liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;10,222,766&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;836,309&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Income&#13;    taxes payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;219,305&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;519,365&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;27,117,080&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;20,522,655&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Loans&#13;    from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,706,259&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Loans&#13;    from a related party&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,185,569&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;10,712,865&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;34,008,908&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;31,235,520&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</srt:ScheduleOfCondensedBalanceSheetTableTextBlock>
    <itp:LiquidityAndGoingConcernPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Liquidity&#13;and Going Concern&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018 the Company had current assets of $24,158,872 and current liabilities of $29,634,267 (including amounts due&#13;to related parties of $413,336 and interest payable for related party loans of $617,454), resulting in a working capital deficit&#13;of approximately $5,475,395; as of December 31, 2017, the Company had current assets of $19,986,797 and current liabilities of&#13;$21,757,533 (including amounts due to related parties of $60,378), resulting in a working capital deficit of approximately $1,770,736.&#13;In late January, 2018, the Company temporarily suspended its production due to a government-mandated restriction on the natural&#13;gas supply. The Company resumed production on March 14, 2018. As a result, the Company incurred a net loss of $4.0 million in&#13;the first quarter of 2018. As the production resumed, the net cash generated from operations for the nine months from April 2018&#13;to December 2018 was $14 million (cash-in) as compared to the net cash-out of $4.8 million in the first quarter of 2018. The management&#13;expects that there will be sufficient and continuous cash-in from sales in the first half of year 2019 and the working capital&#13;condition will be further improved.&lt;/font&gt;&lt;/p&gt;</itp:LiquidityAndGoingConcernPolicyTextBlock>
    <us-gaap:UseOfEstimates contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Use&#13;of Estimates&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions&#13;that affect the reported amounts of assets and liabilities as of December 31, 2018 and 2017, and revenues and expenses for the&#13;years ended December 31, 2018 and 2017. The most significant estimates relate to allowance for uncollectible accounts receivable,&#13;inventory valuation, useful lives and impairment for property, plant and equipment, valuation allowance for deferred tax assets&#13;and contingencies. Actual results could differ from those estimates made by management.&lt;/font&gt;&lt;/p&gt;</us-gaap:UseOfEstimates>
    <us-gaap:ReceivablesPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Accounts&#13;Receivable&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Trade&#13;accounts receivable are recorded on shipment of products to customers. The trade receivables are all without customer collateral&#13;and interest is not accrued on past due accounts. Periodically, management reviews the adequacy of its provision for doubtful&#13;accounts based on historical bad debt expense results and current economic conditions using factors based on the aging of its&#13;accounts receivable. Additionally, the Company may identify additional allowance requirements based on indications that a specific&#13;customer may be experiencing financial difficulties. Actual bad debt results could differ materially from these estimates. As&#13;of December 31, 2018 and 2017, the balance of allowance for doubtful accounts was $58,707 and $37,626, respectively; and the movement&#13;of the provision of the doubtful accounts is as below. While management uses the best information available upon which to base&#13;estimates, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions&#13;used for the purposes of analysis.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Allowance&#13;    of doubtful accounts&lt;/b&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Opening&#13;    balance&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;37,626&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;79,478&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Provision&#13;    (Reversal) for the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;23,676&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(45,309&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Exchange&#13;    difference&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(2,595&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,457&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Closing&#13;    balance&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;58,707&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;37,626&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ReceivablesPolicyTextBlock>
    <us-gaap:InventoryPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Inventories&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Inventories&#13;consist principally of raw materials and finished goods, and are stated at the lower of cost (average cost method) or market.&#13;Cost includes labor, raw materials, and allocated overhead. No provision in inventories has been provided for the years ended&#13;December 31, 2018 and 2017.&lt;/font&gt;&lt;/p&gt;</us-gaap:InventoryPolicyTextBlock>
    <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Property,&#13;Plant, and Equipment&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Property,&#13;plant, and equipment are stated at cost less accumulated depreciation and any impairment losses. 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Construction in progress is not depreciated until project completion and&#13;the constructed property being placed in service, at which time the capitalized balance will be transferred to appropriate account&#13;of property, plant and equipment.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company depreciates property, plant, and equipment using the straight-line method as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Land&#13;    use right&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Over&#13;    the lease term&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Building&#13;    and improvements&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;30&#13;    years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Machinery&#13;    and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5-15&#13;    years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Vehicles&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;15&#13;    years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
    <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Valuation&#13;of long-lived asset&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company reviews the carrying value of long-lived assets to be held and used when events and circumstances warrants such a review.&#13;The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is&#13;separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which&#13;the carrying value exceeds the fair market value of the long-lived asset and intangible assets. Fair market value is determined&#13;primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets&#13;and intangible assets to be disposed are determined in a similar manner, except that fair market values are reduced for the cost&#13;to dispose.&lt;/font&gt;&lt;/p&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
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    <us-gaap:AdvertisingCostsPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Advertising&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company expenses all advertising and promotion costs as incurred. The Company incurred $nil of advertising and promotion costs&#13;for the years ended December 31, 2018 and 2017.&lt;/font&gt;&lt;/p&gt;</us-gaap:AdvertisingCostsPolicyTextBlock>
    <us-gaap:ResearchAndDevelopmentExpensePolicy contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Research&#13;and development costs&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Research&#13;and development costs are expensed as incurred and included in selling, general and administrative expenses. Research and development&#13;expenses incurred $30,194 and $31,922 for the years ended December 31, 2018 and 2017, respectively.&lt;/font&gt;&lt;/p&gt;</us-gaap:ResearchAndDevelopmentExpensePolicy>
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    <itp:ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Allowance&#13;    of doubtful accounts&lt;/b&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Opening&#13;    balance&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;37,626&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;79,478&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Provision&#13;    (Reversal) for the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;23,676&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(45,309&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Exchange&#13;    difference&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(2,595&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,457&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Closing&#13;    balance&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;58,707&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;37,626&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</itp:ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock>
    <itp:ScheudleOfPropertyPlantAndEquipmentEstimatedUsefulLiveTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Land&#13;    use right&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 2%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Over&#13;    the lease term&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Building&#13;    and improvements&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;30&#13;    years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Machinery&#13;    and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5-15&#13;    years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Vehicles&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;15&#13;    years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</itp:ScheudleOfPropertyPlantAndEquipmentEstimatedUsefulLiveTableTextBlock>
    <itp:AllowanceForDoubtfulAccountsExchangeDifference contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">-2595</itp:AllowanceForDoubtfulAccountsExchangeDifference>
    <itp:AllowanceForDoubtfulAccountsExchangeDifference contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00" unitRef="USD" decimals="0">3457</itp:AllowanceForDoubtfulAccountsExchangeDifference>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2018-01-01to2018-12-31_us-gaap_VehiclesMember">P15Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2018-01-01to2018-12-31_us-gaap_MachineryAndEquipmentMember_srt_MinimumMember">P5Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2018-01-01to2018-12-31_us-gaap_MachineryAndEquipmentMember_srt_MaximumMember">P15Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="From2018-01-01to2018-12-31_us-gaap_BuildingAndBuildingImprovementsMember">P30Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives contextRef="From2018-01-01to2018-12-31_us-gaap_UseRightsMember">Over the lease term</us-gaap:PropertyPlantAndEquipmentEstimatedUsefulLives>
    <itp:WorkingCapitalDeficit contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">1770736</itp:WorkingCapitalDeficit>
    <itp:WorkingCapitalDeficit contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">5475395</itp:WorkingCapitalDeficit>
    <itp:NetCashOut contextRef="From2018-01-01to2018-03-31" unitRef="USD" decimals="0">4800000</itp:NetCashOut>
    <us-gaap:DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">The current exchange rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1, respectively. Revenues and expenses are translated using the average exchange rates prevailing throughout the respective years at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively.</us-gaap:DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount>
    <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" decimals="0">37626</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
    <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">58707</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
    <us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2016T00_00_00_TO_31_Dec_2016T00_00_00" unitRef="USD" decimals="0">79478</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
    <itp:NetProfitTransferredToStatutoryReserveFund contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">11811470</itp:NetProfitTransferredToStatutoryReserveFund>
    <itp:NetProfitTransferredToStatutoryReserveFund contextRef="From2018-01-01to2018-12-31_custom_RMBMember" unitRef="CNY" decimals="0">75030000</itp:NetProfitTransferredToStatutoryReserveFund>
    <us-gaap:ResearchAndDevelopmentExpense contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">30194</us-gaap:ResearchAndDevelopmentExpense>
    <us-gaap:ResearchAndDevelopmentExpense contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00" unitRef="USD" decimals="0">31922</us-gaap:ResearchAndDevelopmentExpense>
    <itp:LeaseObligationsDescription contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property?s estimated remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property to the lessor at the inception date.</itp:LeaseObligationsDescription>
    <itp:ValueAddedTaxRate contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="pure" decimals="INF">0.16</itp:ValueAddedTaxRate>
    <us-gaap:InventoryDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(4)&#13;Inventories&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Raw&#13;materials inventory includes mainly recycled paper and coal.&amp;#160;Finished goods include mainly products of corrugating medium&#13;paper and offset printing paper.&amp;#160;Inventories consisted of the following as of and December 31, 2018 and 2017:&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Raw&#13;    Materials&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Recycled&#13;    paper board&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;412,317&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,337,374&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Recycled&#13;    white scrap paper&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;611,861&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;862,734&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Coal&#13;    &amp;#38; gas&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;167,230&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;71,674&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Base&#13;    paper and other raw materials&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;164,295&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;216,655&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,355,703&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,488,437&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Finished&#13;    Goods&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,567,813&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;985,728&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Totals&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,923,516&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,474,165&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:InventoryDisclosureTextBlock>
    <us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Raw&#13;    Materials&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Recycled&#13;    paper board&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;412,317&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,337,374&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Recycled&#13;    white scrap paper&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;611,861&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;862,734&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Coal&#13;    &amp;#38; gas&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;167,230&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;71,674&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 0.125in; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Base&#13;    paper and other raw materials&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;164,295&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;216,655&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,355,703&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,488,437&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Finished&#13;    Goods&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,567,813&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;985,728&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Totals&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,923,516&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,474,165&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
    <itp:PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(5)&#13;Prepayments and other current assets&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepayments&#13;and other current assets consisted of the following as of December 31, 2018 and 2017:&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepaid&#13;    land lease&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;437,114&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;459,123&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Value-added&#13;    tax recoverable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,760,280&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepayment&#13;    for purchase of materials&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;183,649&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;43,905&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,751&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,241,299&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;651,523&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</itp:PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock>
    <itp:ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepaid&#13;    land lease&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;437,114&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;459,123&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Value-added&#13;    tax recoverable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,760,280&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepayment&#13;    for purchase of materials&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;183,649&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;43,905&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,751&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,241,299&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;651,523&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</itp:ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock>
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    <us-gaap:ValueAddedTaxReceivable contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">5760280</us-gaap:ValueAddedTaxReceivable>
    <us-gaap:ScheduleOfDebtInstrumentsTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Rural&#13;    Credit Union of Xushui District Loan 1&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,253,060&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,316,152&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Rural&#13;    Credit Union of Xushui District Loan 2&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,642,615&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,826,022&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Rural&#13;    Credit Union of Xushui District Loan 3&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,302,133&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,418,047&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,197,808&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,560,221&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Less:&#13;    Current portion of long-term loans from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(2,491,549&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(6,366,502&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Long-term&#13;    loans from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,706,259&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,193,719&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfDebtInstrumentsTextBlock>
    <itp:ScheduleOfLongTermDebtRepaymentsTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom"&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&lt;b&gt;Fiscal year&lt;/b&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;Amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 91%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2019&lt;/td&gt;&lt;td style="width: 0%; font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;2,491,549&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2020&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;131,134&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2021&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;203,986&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2022&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;1,602,751&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;2023&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"&gt;2,768,388&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;Total&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"&gt;7,197,808&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</itp:ScheduleOfLongTermDebtRepaymentsTableTextBlock>
    <us-gaap:ShortTermDebtTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(9)&#13;Notes payable&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018, the Company had bank acceptance notes of $3,642,616 from the Bank of Cangzhou to one of its major suppliers&#13;for settling purchase of raw materials. The acceptance notes are used to essentially extend the payment of accounts payable and&#13;are issued under the banking facilities obtained from bank as well as the restricted bank deposit of $3,642,616 in the bank as&#13;mentioned in Note (3). The bank acceptance notes from the bank bore interest rate at nil% per annum and 0.05% of notes amount&#13;as handling charge. The acceptance notes were due and paid off in January 2019.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2017, the Company had bank acceptance notes of $6,121,637 from the Bank of Cangzhou to one of its major suppliers&#13;for settling purchase of raw materials. The acceptance notes are used to essentially extend the payment of accounts payable and&#13;are issued under the banking facilities obtained from bank as well as the restricted bank deposit of $6,121,637 in the bank. The&#13;bank acceptance notes from the bank bore interest rate at nil% per annum and 0.05% of notes amount as handling charge. The acceptance&#13;notes were due and paid off in January 2018.&lt;/font&gt;&lt;/p&gt;</us-gaap:ShortTermDebtTextBlock>
    <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    electricity&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;186,780&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,862&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Value-added&#13;    tax payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;520,190&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;196,395&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    interest to a related party&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;617,454&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;548,684&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Payable&#13;    for purchase of equipment&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,788,924&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;49,585&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    commission to salesmen&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;62,247&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;16,992&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Others&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;47,201&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;21,819&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Totals&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; 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text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;836,337&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
    <us-gaap:CurrentForeignTaxExpenseBenefit contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" decimals="0">8189</us-gaap:CurrentForeignTaxExpenseBenefit>
    <us-gaap:CurrentForeignTaxExpenseBenefit contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00" unitRef="USD" decimals="0">6528</us-gaap:CurrentForeignTaxExpenseBenefit>
    <us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign contextRef="Context_As_Of_31_Dec_2017T00_00_00_TO_31_Dec_2017T00_00_00" unitRef="USD" xsi:nil="true" />
    <us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign contextRef="Context_As_Of_30_Sep_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="USD" xsi:nil="true" />
    <itp:EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="pure" xsi:nil="true" />
    <itp:EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00" unitRef="pure" decimals="INF">0.086</itp:EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja>
    <itp:EffectOfExpensesNotDeductibleForPrcTaxPurposes contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00" unitRef="pure" decimals="INF">0.313</itp:EffectOfExpensesNotDeductibleForPrcTaxPurposes>
    <itp:EffectOfExpensesNotDeductibleForPrcTaxPurposes contextRef="Context_9ME_01_Jan_2017T00_00_00_TO_30_Sep_2017T00_00_00" unitRef="pure" decimals="INF">-0.062</itp:EffectOfExpensesNotDeductibleForPrcTaxPurposes>
    <us-gaap:LongTermDebtDescription contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">The Company guaranteed its long-term loan from financial institutions amounting to $4,516,843 (RMB31,000,000) and $8,159,459 (RMB56,000,000) that matured at various times in 2023.</us-gaap:LongTermDebtDescription>
    <itp:PerformanceHoldbackOnNewTissuePaperPaymentDescription contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">The Company expected to pay off all the balances within 1 year.</itp:PerformanceHoldbackOnNewTissuePaperPaymentDescription>
    <srt:ScheduleOfCondensedCashFlowStatementTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Year&#13;    Ended&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Cash (Used in) Provided by Operating Activities&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(425,127&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(402,579&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Cash Used in Investing Activities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Cash Provided by Financing Activities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;422,692&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; 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background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13; 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On&#13;January 1, 2013, Dongfang Paper and Mr. Zhenyong Liu renewed the three-year term loan previously entered on January 1, 2010, and&#13;extended the maturity date further to December 31, 2015. On December 31, 2015, the Company paid off the loan of $2,249,279, together&#13;with interest of $391,374 for the period from 2013 to 2015. Approximately $373,490 and $392,296 of interest were outstanding to&#13;Mr. Zhenyong Liu, which were recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated&#13;balance sheet as of December 31, 2018 and 2017, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;December 10, 2014, Mr. Zhenyong Liu provided a loan to the Company, amounted to $8,742,278 to Dongfang Paper for working capital&#13;purpose with an interest rate of 4.35% per annum, which was based on the primary lending rate of People&amp;#8217;s Bank of China.&#13;The unsecured loan was provided on December 10, 2014, and would be originally due on December 10, 2017. During the year of 2016,&#13;the Company repaid $6,012,416 to Mr. Zhenyong Liu, together with interest of $288,596. In February 2018, the company repaid $3,014,863&#13;to Mr. Zhenyong Liu, together with interest of $20,400. As of December 31, 2018 and 2017, the outstanding loan balance was $nil&#13;and $3,060,818, respectively and the accrued interest was $43,711 and $45,912, respectively, which was recorded in other payables&#13;and accrued liabilities as part of the current liabilities in the consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;March 1, 2015, the Company entered an agreement with Mr. Zhenyong Liu which allows Dongfang Paper to borrow from the CEO an amount&#13;up to $17,484,555 (RMB120,000,000) for working capital purposes. The advances or funding under the agreement are due three years&#13;from the date each amount is funded. The loan is unsecured and carries an annual interest rate set on the basis of the primary&#13;lending rate of the People&amp;#8217;s Bank of China at the time of the borrowing. On July 13, 2015, an unsecured amount of $4,324,636&#13;was drawn from the facility. On October 14, 2016 an unsecured amount of $2,883,091 was drawn from the facility. In February 2018,&#13;the company repaid $1,507,432 to Mr. Zhenyong Liu. The loan would be originally due on July 12, 2018. Mr. Zhenyong Liu agreed&#13;to extend the loan for additional 3 years and the remaining balance will be due on July 12, 2021. On November 23, 2018, the company&#13;repaid $3,768,579 to Mr. Zhenyong Liu, together with interest of $158,651. As of December 31, 2018 and 2017, the outstanding loan&#13;balance were $2,185,569 and $7,652,047, respectively, and the accrued interest was $200,253 and $110,476, respectively, which&#13;was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018 and 2017, total amount of loans due to Mr. Zhenyong Liu were $2,185,569 and $10,712,865, respectively. The&#13;interest expense incurred for such related party loans are $277,411 and $451,626 for the years ended December 31, 2018 and 2017,&#13;respectively. The accrued interest owe to the CEO was approximately $617,454 and $548,684, as of December 31, 2018 and 2017, respectively,&#13;which was recorded in other payables and accrued liabilities.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018 and 2017, amount due to shareholder are $210,148 and $nil, respectively, which represents funds from shareholders&#13;to pay for various expenses incurred in the U.S. The amount is due on demand with interest free.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Sale&#13;of Headquarters Compound Real Properties to a Related Party&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;August 7, 2013, the Company&amp;#8217;s Audit Committee and the Board of Directors approved the sale of the land use right of the&#13;Headquarters Compound (the &amp;#8220;LUR&amp;#8221;), the office building and essentially all industrial-use buildings in the Headquarters&#13;Compound (the &amp;#8220;Industrial Buildings&amp;#8221;), and three employee dormitory buildings located within the Headquarters Compound&#13;(the &amp;#8220;Dormitories&amp;#8221;) to Hebei Fangsheng for cash prices of approximately $2.77 million, $1.15 million, and $4.31 million&#13;respectively. Sales of the LUR and the Industrial Buildings were completed in year 2013.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;In&#13;connection with the sale of the Industrial Buildings, Hebei Fangsheng agreed to lease the Industrial Buildings back to the Company&#13;for its original use for a term of up to three years, with an annual rental payment of approximately $150,743 (RMB1,000,000).&#13;The lease agreement expired in August 2016. On August 6, 2016 and August 6, 2018, the Company entered into two supplementary agreements&#13;with Hebei Fangsheng, who agreed to extend the lease term for another four years in total, with the same rental payment as original&#13;lease agreement.&lt;/font&gt;&lt;/p&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(11)&#13;Common Stock&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Issuance&#13;of common stock to investors&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 52.8pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;August 27, 2014, the Company issued 1,562,500 shares of our common stock and warrants to purchase up to 781,250 shares of our&#13;common stock (the &amp;#8220;Offering&amp;#8221;). Each share of common stock and accompanying warrant was sold at a price of $1.60. Please&#13;refer to Note (12), Stock Warrants, for details.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Issuance&#13;of common stock pursuant to the 2012 Incentive Stock Plan and 2015 Omnibus Equity Incentive&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;January 12, 2016, the Company granted an aggregate of 1,133,916 shares of common stock under its compensatory incentive plans&#13;to nine officers, directors and employees of and a consultant when the stock was at $1.25 per share, as compensation for their&#13;services in the past years, of which 168,416 shares of common stock were granted under the 2012 Incentive Stock Plan and 965,500&#13;shares were granted under the 2015 Omnibus Equity Incentive. Please see Note (15), Stock Incentive Plans for more details. Total&#13;fair value of the stock was calculated at $1,417,395 as of the date of grant.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;September 13, 2018, the compensation committee granted an aggregate of 534,500 shares of common stock at $0.88 per share to fifteen&#13;officers, directors and employees of the Company, which were granted under the 2015 Omnibus Equity Incentive Plan. Total fair&#13;value of the shares of common stock granted was calculated at $470,360 as of the date of issuance.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Issuance&#13;of common stock to Weitian&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 52.8pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;October 15, 2018, the Company entered an agreement with Weitian Group LCC(&amp;#8220;Weitian&amp;#8221;) and agreed as compensation to&#13;issue to Weitian in the aggregate of 70,000 shares of common stock for investor relation consulting service rendered from October&#13;15, 2018 to October 15,2019. 37500 shares of common stock were issued to Weitain on November 12, 2018. Total fair value of the&#13;shares of common stock granted was calculated at $32,625 at $0.87 per share.&lt;/font&gt;&lt;/p&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
    <us-gaap:EarningsPerShareTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(13)&#13;Earnings Per Share&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;For&#13;the years ended December 31, 2018 and 2017, basic and diluted net income per share are calculated as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year Ended December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold"&gt;Basic (loss) income per share&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left; padding-bottom: 1.5pt"&gt;Net (loss) income for the year - numerator&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,545,684&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;1,659,788&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Weighted average common stock outstanding - denominator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,618,305&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,450,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 4pt"&gt;Net (loss) income per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.49&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.08&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font-weight: bold"&gt;Diluted (loss) income per share&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Net (loss) income for the year - numerator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,545,684&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,659,788&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Weighted average common stock outstanding - denominator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,618,305&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,450,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;Effect of dilution&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Weighted average common stock outstanding - denominator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,618,305&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,450,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="padding-bottom: 4pt"&gt;Diluted (loss) income per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.49&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.08&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;For&#13;the years ended December 31, 2018 and 2017, 820,312 shares related to warrants are excluded from the calculations of dilutive&#13;net income per share as their effects would have been anti-dilutive since the average share price for the years ended December&#13;31, 2018 and 2017 were lower than the warrants exercise price.&lt;/font&gt;&lt;/p&gt;</us-gaap:EarningsPerShareTextBlock>
    <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(15)&#13;Stock Incentive Plans&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Issuance&#13;of common stock pursuant to the 2011 Incentive Stock Plan and 2012 Incentive Stock Plan&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;August 28, 2011, the Company&amp;#8217;s Annual General Meeting approved the 2011 Incentive Stock Plan ofIT Tech Packaging, Inc. (the&#13;&amp;#8220;2011 ISP&amp;#8221;) as previously adopted by the Board of Directors on July 5, 2011. Under the 2011 ISP, the Company may grant&#13;an aggregate of 375,000 shares of the Company&amp;#8217;s common stock to the Company&amp;#8217;s directors, officers, employees or consultants.&#13;No stock or option was issued under the 2011 ISP until January 2, 2012, when the Compensation Committee granted 109,584 shares&#13;of restricted common stock to certain officers and directors of the Company when the stock was at $3.45 per share, as compensation&#13;for their services in the past years. Total fair value of the stock was calculated at $378,065 as of the date of issuance.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;September 10, 2012, the Company&amp;#8217;s Annual General Meeting approved the 2012 Incentive Stock Plan of IT Tech Packaging , Inc.&#13;(the &amp;#8220;2012 ISP&amp;#8221;) as previously adopted by the Board of Directors on July 4, 2012. Under the 2012 ISP, the Company&#13;may grant an aggregate of 200,000 shares of the Company&amp;#8217;s common stock to the Company&amp;#8217;s directors, officers, employees&#13;or consultants. Specifically, the Board and/or the Compensation Committee have authority to (a) grant, in its discretion, Incentive&#13;Stock Options or Non-statutory Options, Stock Awards or Restricted Stock Purchase Offers; (b) determine in good faith the fair&#13;market value of the stock covered by any grant; (c) determine which eligible persons shall receive grants and the number of shares,&#13;restrictions, terms and conditions to be included in such grants; and (d) make all other determinations necessary or advisable&#13;for the 2012 ISP&amp;#8217;s administration. On December 31, 2013, the Compensation Committee granted restricted common shares of&#13;297,000, out of which 265,416 shares were granted under the 2011 ISP and 31,584 shares under the 2012 ISP, to certain officers,&#13;directors and employees of the Company when the stock was at $2.66 per share, as compensation for their services in the past years.&#13;Total fair value of the stock was calculated at $790,020 as of the date of grant.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;2015&#13;Incentive Plan&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;August 29, 2015, the Company&amp;#8217;s Annual General Meeting approved the 2015 Omnibus Equity Incentive Plan of IT Tech Packaging,&#13;Inc. (the &amp;#8220;2015 ISP&amp;#8221;) as previously adopted by the Board of Directors on July 10, 2015. Under the 2015 ISP, the Company&#13;may grant an aggregate of 1,500,000 shares of the Company&amp;#8217;s common stock to the directors, officers, employees and/or consultants&#13;of the Company and its subsidiaries.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;January 12, 2016, the Compensation Committee granted un-restricted common shares of 1,133,916, of which 168,416 shares were granted&#13;under the 2012 ISP and 965,500 shares under the 2015 ISP, to certain officers, directors, employees and a consultant of the Company&#13;as compensation for their services in the past years. Total fair value of the stock was calculated at $1,417,395 as of the date&#13;of issuance at $1.25 per share.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;September 13, 2018, the compensation committee granted an aggregate of 534,500 shares of common stock to fifteen officers, directors&#13;and employees of the Company, which were granted under the 2015 Omnibus Equity Incentive Plan. Total fair value of the shares&#13;of common stock granted was calculated at $470,360 as of the date of issuance at $0.88 per share.&lt;/font&gt;&lt;/p&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
    <us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(19)&#13;Concentration of Credit Risk&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Financial&#13;instruments for which the Company is potentially subject to concentration of credit risk consist principally of cash. The Company&#13;places its cash in reputable financial institutions in the PRC and the United States. Although it is generally understood that&#13;the PRC central government stands behind all of the banks in China in the event of bank failure, there is no deposit insurance&#13;system in China that is similar to the protection provided by the Federal Deposit Insurance Corporation (&amp;#8220;FDIC&amp;#8221;) of&#13;the United States as of December 31, 2018 and December 31, 2017. On May 1, 2015, the new &amp;#8220;Deposit Insurance Regulations&amp;#8221;&#13;was effective in the PRC that the maximum protection would be up to RMB500,000 (US$72,852) per depositor per insured financial&#13;intuition, including both principal and interest. For the cash placed in financial institutions in the United States, the Company&amp;#8217;s&#13;U.S. bank accounts are all fully covered by the FDIC insurance as of December 31, 2018 and 2017, respectively, while for the cash&#13;placed in financial institutions in the PRC, the balances exceeding the maximum coverage of RMB500,000 amounted to RMB80,774,719&#13;(US$11,769,250) as of December 31, 2018.&lt;/font&gt;&lt;/p&gt;</us-gaap:ConcentrationRiskDisclosureTextBlock>
    <us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(21)&#13;Recent Accounting Pronouncements&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;In&#13;January 2016, the FASB issued ASU No. 2016-01, &amp;#8220;Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement&#13;of Financial Assets and Financial Liabilities&amp;#8221; (&amp;#8220;ASU 2016-01&amp;#8221;). The amendments in this update require all equity&#13;investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted&#13;for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also&#13;require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability&#13;resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value&#13;in accordance with the fair value option for financial instruments. In addition the amendments in this update eliminate the requirement&#13;to disclose the method(s) and significant assumptions used to estimate the fair value that are required to be disclosed for financial&#13;instruments measured at amortized cost on the balance sheet for public entities. For public business entities, the amendments&#13;in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal&#13;years. Except for the early application guidance discussed in ASU 2016-01, early adoption of the amendments in this update is&#13;not permitted. We do not expect the adoption of ASU 2016-01 to have a material impact on our consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;In&#13;February 2016, the FASB issued ASU No. 2016-02, &amp;#8220;Leases (Topic 842)&amp;#8221; (&amp;#8220;ASU 2016-02&amp;#8221;). The amendments in&#13;this update create Topic 842, Leases, and supersede the leases requirements in Topic 840, Leases. Topic 842 specifies the accounting&#13;for leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information&#13;to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The main difference&#13;between Topic 842 and Topic 840 is the recognition of lease assets and lease liabilities for those leases classified as operating&#13;leases under Topic 840. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria&#13;for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing&#13;between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance&#13;leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive&#13;income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in ASU 2016-02 are effective for&#13;fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities.&#13;Early application of the amendments in ASU 2016-02 is permitted. We are currently in the process of evaluating the impact of the&#13;adoption of ASU 2016-02 on our consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;In&#13;June 2016, the FASB issued ASU No. 2016-13, &amp;#8220;Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses&#13;on Financial Instruments&amp;#8221; (&amp;#8220;ASU 2016-13&amp;#8221;). Financial Instruments-Credit Losses (Topic 326) amends guidelines&#13;on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at&#13;amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an&#13;entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that&#13;is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale&#13;debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit&#13;losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net&#13;investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities,&#13;trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial&#13;assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective&#13;for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating&#13;the impact of the adoption of ASU 2016-13 on our consolidated financial statements.&lt;/font&gt;&lt;/p&gt;</us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock>
    <us-gaap:QuarterlyFinancialInformationTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(23)&#13;Summarized Quarterly Financial Data (Unaudited)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Quarterly&#13;financial information for 2018 and 2017 is as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Quarter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;First&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Second&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Third&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Fourth&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 52%"&gt;Revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,888,194&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;33,149,190&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;26,723,657&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;24,985,717&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Gross (loss) profit&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(695,308&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,015,422&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,259,343&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,240,944&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left"&gt;Loss from operations&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,519,478&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(11,730&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,570,353&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5,080,753&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Net (loss) income&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,086,276&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;109,994&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,404,962&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5,164,440&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;Net income per share&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;Basic&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.19&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.005&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.07&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.24&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;Diluted&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.19&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.005&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.07&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.24&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="14" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Quarter&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;First&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Second&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Third&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Fourth&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 52%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Revenues&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;25,289,659&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;22,787,683&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;33,507,053&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;35,439,183&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Gross&#13;    profit&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,653,920&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,464,666&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,221,288&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,616,077&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Income&#13;    from operations&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,871,578&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;764,016&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,719,550&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(1,674,877&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    income(loss)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,707,869&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;15,917&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,572,335&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(1,636,333&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net income per&#13;    share:&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Basic&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; 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    <us-gaap:ConsolidationPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Basis&#13;of Consolidation&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;consolidated financial statements of the Company are prepared in accordance with accounting principles generally accepted in the&#13;United States of America (&amp;#8220;US GAAP&amp;#8221;), and include the assets, liabilities, revenues, expenses and cash flows of all&#13;subsidiaries and variable interest entity. All significant inter-company balances, transactions and cash flows are eliminated&#13;on consolidation.&lt;/font&gt;&lt;/p&gt;</us-gaap:ConsolidationPolicyTextBlock>
    <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Foreign&#13;Currency Translation&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company accounts for foreign currency translation pursuant to ASC Topic 830,&lt;i&gt;&amp;#160;Foreign Currency Matters&lt;/i&gt;. The functional&#13;currency of Dongfang Paper and Baoding Shengde is the Chinese Yuan Renminbi (&amp;#8220;RMB&amp;#8221;). Monetary assets and liabilities&#13;denominated in currencies other than RMB are translated into RMB at the rates of exchange ruling at the balance sheet date. Transactions&#13;in currencies other than RMB are converted into RMB at the applicable rates of exchange prevailing the transactions occurred.&#13;Transaction gains and losses are recognized in the consolidated statements of income. The functional currency of IT Tech Packaging&#13;and Shengde Holdings is United States dollars. Monetary assets and liabilities denominated in currencies other than United States&#13;dollars are translated into United States dollars at the rates of exchange ruling at the balance sheet date. Translation in currencies&#13;other than United States dollars are converted into United States dollars at the applicable rates of exchange prevailing when&#13;the transactions occurred. Transaction gains or losses are recognized in the consolidated statement of income.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Under&#13;ASC Topic 830-30, all assets and liabilities are translated into United States dollars using the current exchange rate at the&#13;end of each fiscal period. The current exchange rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese&#13;RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1, respectively. Revenues and expenses are translated using the average exchange&#13;rates prevailing throughout the respective years at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively.&#13;Translation adjustments are included in other comprehensive income (loss).&lt;/font&gt;&lt;/p&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
    <itp:StatutoryReservesPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Statutory&#13;Reserves&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;According&#13;to the laws and regulations in the PRC, the Company is required to provide for certain statutory funds, namely, a reserve fund&#13;by an appropriation from net profit after taxation but before dividend distribution based on the local statutory financial statements&#13;of the PRC subsidiary and variable interest entity prepared in accordance with the PRC accounting principles and relevant financial&#13;regulations.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Each&#13;of the Company&amp;#8217;s wholly owned subsidiary and variable interest entity in the PRC are required to allocate at least 10% of&#13;its net profit to the reserve fund until the balance of such fund has reached 50% of its registered capital. Appropriations of&#13;additional reserve fund are determined at the discretion of its directors. The reserve fund can only be used, upon approval by&#13;the relevant authority, to offset accumulated losses or increase capital.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;For&#13;the years ended December 31, 2018 and 2017, IT Tech Packaging made transfers of $nil to this reserve fund. As a result of net&#13;loss in fiscal year 2018 and 2017 of Baoding Shengde, no statutory reserves were provided for the year ended December 31, 2018&#13;and 2017. The Company&amp;#8217;s variable interest entity Dongfang Paper, the statutory reserve account of which has been fully funded&#13;for 50% of its registered capital in the amount of RMB 75,030,000 (or approximately $11,811,470) since December 31, 2010, did&#13;not make any transfer to statutory reserves during the years ended December 31, 2018 and 2017.&lt;/font&gt;&lt;/p&gt;</itp:StatutoryReservesPolicyTextBlock>
    <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Revenue&#13;Recognition Policy&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company recognizes revenue when goods are delivered, when a formal arrangement exists, the price is fixed or determinable, the&#13;delivery is completed, no other significant obligations of the Company exist, and collectability is reasonably assured. Goods&#13;are considered delivered when customer&amp;#8217;s truck picks up goods at our finished goods inventory warehouse.&lt;/font&gt;&lt;/p&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
    <us-gaap:GovernmentContractorsPolicyPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Government&#13;subsidies&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;A&#13;government subsidy is not recognized until there is reasonable assurance that: (a) the enterprise will comply with the conditions&#13;attached to the grant; and (b) the grant will be received. When the Company received the government subsidies but the conditions&#13;attached to the grants have not been fulfilled, such government subsidies are deferred and recorded under other payables and accrued&#13;expenses, and other long-term liability. The classification of short-term or long-term liabilities is depended on the management&amp;#8217;s&#13;expectation of when the conditions attached to the grant can be fulfilled. For the years ended December 31, 2018 and 2017, the&#13;Company received government subsidies of $241,189 and $41,529, which are recognized as subsidy income in the consolidated statements&#13;of income in that fiscal year.&lt;/font&gt;&lt;/p&gt;</us-gaap:GovernmentContractorsPolicyPolicyTextBlock>
    <itp:LeaseObligationPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Lease&#13;Obligations&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;All&#13;non-cancellable leases with an initial term greater than one year are categorized as either capital or operating leases. For the&#13;lessee, a lease is a capital lease if any of the following conditions exist: a) ownership is transferred to the lessee by the&#13;end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property&amp;#8217;s estimated&#13;remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more&#13;of the fair value of the leased property to the lessor at the inception date. A capital lease is accounted for as if there was&#13;an acquisition of an asset and an incurrence of an obligation at the inception of the lease. All other leases are accounted for&#13;as operating leases. Assets recorded under capital leases are amortized according to the same depreciation methods employed for&#13;property, plant and equipment or over the term of the related lease, if shorter.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company defers any profit or loss from a sale-leaseback transaction unless any of the following conditions exist: a) the seller-lessee&#13;relinquishes the right to substantially all of the remaining use of the property sold retaining only a minor portion of such use;&#13;b) the seller-lessee retains more than a minor part but less than substantially all of the use of the property through the leaseback&#13;and realizes a profit on the sale in excess of the recorded amount of the leased assets; or c) the fair value of the property&#13;at the time of the transaction is less than its undepreciated cost, in which circumstance a loss shall be recognized immediately.&lt;/font&gt;&lt;/p&gt;</itp:LeaseObligationPolicyTextBlock>
    <us-gaap:IncomeTaxPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Income&#13;Taxes&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company accounts for income taxes pursuant to ASC Topic 740, Income Taxes. Income taxes are provided on an asset and liability&#13;approach for financial accounting and reporting of income taxes. Any tax paid by subsidiaries during the year is recorded. Current&#13;tax is based on the profit or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income&#13;tax purpose and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. ASC Topic&#13;740 also requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the&#13;financial statements and the tax basis of assets and liabilities, and for the expected future tax benefit to be derived from tax&#13;losses and tax credit carry-forwards. ASC Topic 740 additionally requires the establishment of a valuation allowance to reflect&#13;the likelihood of realization of deferred tax assets. Realization of deferred tax assets, including those related to the U.S.&#13;net operating loss carry-forwards, are dependent upon future earnings, if any, of which the timing and amount are uncertain.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company adopted ASC Topic 740-10-05,&lt;i&gt;&amp;#160;Income Tax&lt;/i&gt;, which provides guidance for recognizing and measuring uncertain tax&#13;positions, it prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position&#13;to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure&#13;of these uncertain tax positions.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company&amp;#8217;s policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is&#13;to present them as a component of income tax expense.&lt;/font&gt;&lt;/p&gt;</us-gaap:IncomeTaxPolicyTextBlock>
    <itp:ValueAddedTaxPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Value&#13;Added Tax&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Both&#13;the PRC subsidiary and variable interest entity of the Company are subject to value added tax (&amp;#8220;VAT&amp;#8221;) imposed by the&#13;PRC government on its purchase and sales of goods. The output VAT is charged to customers who purchase goods from the Company&#13;and the input VAT is paid when the Company purchases goods from its vendors. VAT rate is 16% in general, depending on the types&#13;of products purchased and sold. The input VAT can be offset against the output VAT. Debit balance of VAT payable represents a&#13;credit against future collection of output VAT instead of a receivable due from government.&lt;/font&gt;&lt;/p&gt;</itp:ValueAddedTaxPolicyTextBlock>
    <us-gaap:FairValueMeasurementPolicyPolicyTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Fair&#13;Value Measurements&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company has adopted ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework&#13;for measuring fair value in GAAP, and expands disclosures about fair value measurements. It does not require any new fair value&#13;measurements, but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source&#13;of the information. It establishes a three-level valuation hierarchy of valuation techniques based on observable and unobservable&#13;inputs, which may be used to measure fair value and include the following:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Level&#13;1 - Quoted prices in active markets for identical assets or liabilities.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Level&#13;2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or&#13;liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable&#13;market data for substantially the full term of the assets or liabilities.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Level&#13;3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets&#13;or liabilities.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Classification&#13;within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable&#13;judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts that&#13;the Company could realize in a current market exchange. As of December 31, 2018 and 2017, the carrying value of the Company&amp;#8217;s&#13;short term financial instruments, such as cash and bank balances, accounts receivable, accounts and notes payable, short-term&#13;bank loans and balance due to related parties, approximate at their fair values because of the short maturity of these instruments;&#13;while loans from credit union, loans from a related party and obligation under capital lease approximate at their fair value as&#13;the interest rates thereon are close to the market rates of interest published by the People&amp;#8217;s Bank of China.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company does not have any assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017.&lt;/font&gt;&lt;/p&gt;</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
    <us-gaap:ScheduleOfVariableInterestEntitiesTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Date&#13;    of Incorporation&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Place&#13;                                         of&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Incorporation&amp;#160;or&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Percentage&amp;#160;of&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Name&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;or&amp;#160;Establishment&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Establishment&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Ownership&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Principal&amp;#160;Activity&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Subsidiary:&lt;/i&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 26%; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;    Holding&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;November&amp;#160;13,&amp;#160;2006&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;BVI&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 5%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;100&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Inactive&#13;    investment holding&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Shengde&#13;    Holdings&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;February&#13;    25, 2009&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;State&#13;    of Nevada&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;100&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Investment&#13;    holding&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Baoding&#13;    Shengde&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;June&#13;    1, 2009&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;PRC&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;100&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Paper&amp;#160;production&amp;#160;and&amp;#160;distribution&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Variable&#13;    interest entity (&amp;#8220;VIE&amp;#8221;):&lt;/i&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;    Paper&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;March&#13;    10, 1996&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;PRC&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Control&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;*&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Paper&#13;    production and distribution&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif"&gt;&#13;&lt;td style="width: 0; font-family: Times New Roman, Times, Serif"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;*&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;                                         Paper is treated as a 100% controlled variable interest entity of the Company.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfVariableInterestEntitiesTextBlock>
    <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom"&gt;&lt;td&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&amp;#160;31,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;December&amp;#160;31,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;Property, Plant, and Equipment:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 82%; text-align: left"&gt;Land use rights&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;11,881,571&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 6%; text-align: right"&gt;12,479,814&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Building and improvements&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;94,127,348&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;98,866,703&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left"&gt;Machinery and equipment&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;147,383,943&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;118,670,578&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;Vehicles&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;597,484&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;593,265&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Construction in progress&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;5,005,041&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;36,077,498&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font-weight: bold"&gt;Totals&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;258,995,387&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;266,687,858&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: accumulated depreciation and amortization&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(91,165,671&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(77,299,149&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Property, Plant and Equipment, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;167,829,716&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;189,388,709&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
    <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom"&gt;&lt;td&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Year Ended December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold"&gt;Basic (loss) income per share&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left; padding-bottom: 1.5pt"&gt;Net (loss) income for the year - numerator&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,545,684&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;1,659,788&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Weighted average common stock outstanding - denominator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,618,305&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,450,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 4pt"&gt;Net (loss) income per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.49&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.08&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font-weight: bold"&gt;Diluted (loss) income per share&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Net (loss) income for the year - numerator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,545,684&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,659,788&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Weighted average common stock outstanding - denominator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,618,305&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,450,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;Effect of dilution&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Weighted average common stock outstanding - denominator&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,618,305&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;21,450,316&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="padding-bottom: 4pt"&gt;Diluted (loss) income per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(0.49&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;0.08&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
    <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom"&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center"&gt;Year Ended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left"&gt;Provision for Income Taxes&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left"&gt;Current Tax Provision U.S.&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;8,189&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,528&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Current Tax Provision PRC&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;230,322&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,519,311&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Deferred Tax Provision PRC&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,089,439&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,863,011&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total Provision for (Deferred tax benefit)/ Income Taxes&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,850,928&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;662,828&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
    <us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom"&gt;&lt;td&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&amp;#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold"&gt;Deferred tax assets&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left; padding-left: 9pt"&gt;Depreciation and amortization of property, plant and equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,097,828&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,123,762&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-left: 9pt"&gt;Impairment of property, plant and equipment&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;546,531&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;440,080&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;Miscellaneous&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289,799&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;712,517&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-left: 9pt"&gt;Net operating loss carryover of PRC company&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;342,933&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;296,200&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Net operating loss carryover for U.S. income tax purposes&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Total deferred tax assets&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,277,091&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,572,559&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: Valuation allowance&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total deferred tax assets, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,277,091&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,572,559&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock>
    <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom"&gt;&lt;td&gt;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center"&gt;Year ended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left"&gt;PRC Statutory rate&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;25.0&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;%&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;25.0&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Effect of the U.S. Transition Tax under the 2017 TCJA&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8.6&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left"&gt;Effect of different tax jurisdiction&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(0.8&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Effect of expenses not deductible for PRC tax purposes&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;31.3&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6.2&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left"&gt;(Over) Under-provision in previous year&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1.1&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Change in valuation allowance&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3.0&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;Other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(38.7&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3.0&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Effective income tax rate&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;17.6&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;28.5&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
    <us-gaap:ScheduleOfQuarterlyFinancialInformationTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom"&gt;&lt;td&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Quarter&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;First&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Second&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Third&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Fourth&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 52%"&gt;Revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,888,194&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;33,149,190&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;26,723,657&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;24,985,717&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Gross (loss) profit&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(695,308&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,015,422&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,259,343&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,240,944&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left"&gt;Loss from operations&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,519,478&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(11,730&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,570,353&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5,080,753&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Net (loss) income&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(4,086,276&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;109,994&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,404,962&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(5,164,440&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;Net income per share&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td&gt;Basic&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.19&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.005&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.07&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.24&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td&gt;Diluted&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.19&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;0.005&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.07&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;$&lt;/td&gt;&lt;td style="text-align: right"&gt;-0.24&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="14" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Quarter&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;First&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Second&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Third&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Fourth&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 52%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Revenues&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;25,289,659&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;22,787,683&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;33,507,053&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; 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   &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Gross&#13;    profit&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,653,920&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,464,666&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,221,288&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,616,077&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Income&#13;    from operations&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,871,578&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;764,016&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,719,550&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(1,674,877&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    income(loss)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,707,869&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;15,917&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,572,335&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(1,636,333&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net income per&#13;    share:&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Basic&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.08&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.001&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.07&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-0.076&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Diluted&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.08&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.001&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.07&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; 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    <us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;(2) Basis of Presentation and Significant&#13;Accounting Policies&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Basis of Consolidation&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 34.1pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The consolidated financial statements of the&#13;Company are prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#8220;US GAAP&amp;#8221;),&#13;and include the assets, liabilities, revenues, expenses and cash flows of all subsidiaries and variable interest entity. All significant&#13;inter-company balances, transactions and cash flows are eliminated on consolidation.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Liquidity and Going Concern&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;As of December 31, 2018 the Company had current&#13;assets of $24,158,872 and current liabilities of $29,634,267 (including amounts due to related parties of $413,336 and interest&#13;payable for related party loans of $617,454), resulting in a working capital deficit of approximately $5,475,395; as of December&#13;31, 2017, the Company had current assets of $19,986,797 and current liabilities of $21,757,533 (including amounts due to related&#13;parties of $60,378), resulting in a working capital deficit of approximately $1,770,736. In late January, 2018, the Company temporarily&#13;suspended its production due to a government-mandated restriction on the natural gas supply. The Company resumed production on&#13;March 14, 2018. As a result, the Company incurred a net loss of $4.0 million in the first quarter of 2018. As the production resumed,&#13;the net cash generated from operations for the nine months from April 2018 to December 2018 was $14 million (cash-in) as compared&#13;to the net cash-out of $4.8 million in the first quarter of 2018. The management expects that there will be sufficient and continuous&#13;cash-in from sales in the first half of year 2019 and the working capital condition will be further improved.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 6in"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Foreign Currency Translation&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company accounts for foreign currency translation&#13;pursuant to ASC Topic 830,&lt;i&gt;&amp;#160;Foreign Currency Matters&lt;/i&gt;. The functional currency of Dongfang Paper and Baoding Shengde&#13;is the Chinese Yuan Renminbi (&amp;#8220;RMB&amp;#8221;). Monetary assets and liabilities denominated in currencies other than RMB are&#13;translated into RMB at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than RMB are converted&#13;into RMB at the applicable rates of exchange prevailing the transactions occurred. Transaction gains and losses are recognized&#13;in the consolidated statements of income. The functional currency of IT Tech Packaging and Shengde Holdings is United States dollars.&#13;Monetary assets and liabilities denominated in currencies other than United States dollars are translated into United States dollars&#13;at the rates of exchange ruling at the balance sheet date. Translation in currencies other than United States dollars are converted&#13;into United States dollars at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains or&#13;losses are recognized in the consolidated statement of income.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Under ASC Topic 830-30, all assets and liabilities&#13;are translated into United States dollars using the current exchange rate at the end of each fiscal period. The current exchange&#13;rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1,&#13;respectively. Revenues and expenses are translated using the average exchange rates prevailing throughout the respective years&#13;at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively. Translation adjustments are included in&#13;other comprehensive income (loss).&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Use of Estimates&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The preparation of consolidated financial statements&#13;in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and&#13;liabilities as of December 31, 2018 and 2017, and revenues and expenses for the years ended December 31, 2018 and 2017. The most&#13;significant estimates relate to allowance for uncollectible accounts receivable, inventory valuation, useful lives and impairment&#13;for property, plant and equipment, valuation allowance for deferred tax assets and contingencies. Actual results could differ from&#13;those estimates made by management.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Accounts Receivable&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Trade accounts receivable are recorded on shipment&#13;of products to customers. The trade receivables are all without customer collateral and interest is not accrued on past due accounts.&#13;Periodically, management reviews the adequacy of its provision for doubtful accounts based on historical bad debt expense results&#13;and current economic conditions using factors based on the aging of its accounts receivable. Additionally, the Company may identify&#13;additional allowance requirements based on indications that a specific customer may be experiencing financial difficulties. Actual&#13;bad debt results could differ materially from these estimates. As of December 31, 2018 and 2017, the balance of allowance for doubtful&#13;accounts was $58,707 and $37,626, respectively; and the movement of the provision of the doubtful accounts is as below. While management&#13;uses the best information available upon which to base estimates, future adjustments to the allowance may be necessary if economic&#13;conditions differ substantially from the assumptions used for the purposes of analysis.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="white-space: nowrap"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="white-space: nowrap; border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="white-space: nowrap; border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="white-space: nowrap; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;Allowance of doubtful accounts&lt;/b&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td style="width: 78%"&gt;&lt;font style="font-size: 10pt"&gt;Opening balance&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 10pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 8%; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;37,626&lt;/font&gt;&lt;/td&gt;&#13; 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   &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td style="padding-bottom: 4pt"&gt;&lt;font style="font-size: 10pt"&gt;Closing balance&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 4.5pt double"&gt;&lt;font style="font-size: 10pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 4.5pt double; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;58,707&lt;/font&gt;&lt;/td&gt;&#13; 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Cost includes labor, raw materials, and&#13;allocated overhead. No provision in inventories has been provided for the years ended December 31, 2018 and 2017.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Property, Plant, and Equipment&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Property, plant, and equipment are stated at&#13;cost less accumulated depreciation and any impairment losses. Major renewals, betterments, and improvements are capitalized to&#13;the asset accounts while replacements, maintenance, and repairs, which do not improve or extend the lives of the respective assets,&#13;are expensed to operations. At the time property, plant, and equipment are retired or otherwise disposed of, the asset and related&#13;accumulated depreciation or amortization accounts are relieved of the applicable amounts. Gains or losses from retirements or sales&#13;are credited or charged to operations.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Construction-in-progress is stated at cost&#13;and capitalized as expenses are incurred or as payments are made pursuant to relevant construction contracts. Contract retention&#13;is recorded as accrued liability. Construction in progress is not depreciated until project completion and the constructed property&#13;being placed in service, at which time the capitalized balance will be transferred to appropriate account of property, plant and&#13;equipment.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company depreciates property, plant, and&#13;equipment using the straight-line method as follows:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td style="width: 50%; padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;Land use right&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 49%; padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;Over the lease term&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;Building and improvements&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;30 years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td style="padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;Machinery and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;5-15 years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;Vehicles&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-left: 12.1pt; text-indent: -12.1pt"&gt;&lt;font style="font-size: 10pt"&gt;15 years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Valuation of long-lived asset&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company reviews the carrying value of long-lived&#13;assets to be held and used when events and circumstances warrants such a review. The carrying value of a long-lived asset is considered&#13;impaired when the anticipated undiscounted cash flow from such asset is separately identifiable and is less than its carrying value.&#13;In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair market value of the long-lived&#13;asset and intangible assets. Fair market value is determined primarily using the anticipated cash flows discounted at a rate commensurate&#13;with the risk involved. Losses on long-lived assets and intangible assets to be disposed are determined in a similar manner, except&#13;that fair market values are reduced for the cost to dispose.&lt;/p&gt;&#13;&#13;&lt;p style="margin: 0"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Statutory Reserves&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;According to the laws and regulations in the&#13;PRC, the Company is required to provide for certain statutory funds, namely, a reserve fund by an appropriation from net profit&#13;after taxation but before dividend distribution based on the local statutory financial statements of the PRC subsidiary and variable&#13;interest entity prepared in accordance with the PRC accounting principles and relevant financial regulations.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Each of the Company&amp;#8217;s wholly owned subsidiary&#13;and variable interest entity in the PRC are required to allocate at least 10% of its net profit to the reserve fund until the balance&#13;of such fund has reached 50% of its registered capital. Appropriations of additional reserve fund are determined at the discretion&#13;of its directors. The reserve fund can only be used, upon approval by the relevant authority, to offset accumulated losses or increase&#13;capital.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;For the years ended December 31, 2018 and 2017,&#13;IT Tech Packaging made transfers of $nil to this reserve fund. As a result of net loss in fiscal year 2018 and 2017 of Baoding&#13;Shengde, no statutory reserves were provided for the year ended December 31, 2018 and 2017. The Company&amp;#8217;s variable interest&#13;entity Dongfang Paper, the statutory reserve account of which has been fully funded for 50% of its registered capital in the amount&#13;of RMB 75,030,000 (or approximately $11,811,470) since December 31, 2010, did not make any transfer to statutory reserves during&#13;the years ended December 31, 2018 and 2017.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Employee Benefit Plan&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Full time employees of the PRC entities participate&#13;in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment&#13;insurance and other welfare benefits are provided to employees. The total provision for such employee benefits was $nil for the&#13;years ended December 31, 2018 and 2017.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Revenue Recognition Policy&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company recognizes revenue when goods are&#13;delivered, when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant&#13;obligations of the Company exist, and collectability is reasonably assured. Goods are considered delivered when customer&amp;#8217;s&#13;truck picks up goods at our finished goods inventory warehouse.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Shipping Cost&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Substantially all customers use their own trucks&#13;or hire commercial trucking companies to pick up goods from the Company. The Company usually incurs no shipping cost for delivery&#13;of goods to customers. For those rare situations where products are not shipped utilizing customer specified shipping services,&#13;the Company charges customers a shipping fee which is included in net revenues and was not material. Freight-in and handling costs&#13;incurred by the Company with respect to purchased goods are recorded as a component of inventory cost and charged to cost of sales&#13;when the inventory items are sold.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Advertising&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company expenses all advertising and promotion&#13;costs as incurred. The Company incurred $nil of advertising and promotion costs for the years ended December 31, 2018 and 2017.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Research and development costs&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Research and development costs are expensed&#13;as incurred and included in selling, general and administrative expenses. Research and development expenses incurred $30,194 and&#13;$31,922 for the years ended December 31, 2018 and 2017, respectively.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Borrowing costs&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Borrowing costs attributable directly to the&#13;acquisition, construction or production of qualifying assets which require a substantial period of time to be ready for their intended&#13;use or sale, are capitalized as part of the cost of those assets. Income earned on temporary investments of specific borrowings&#13;pending their expenditure on those assets is deducted from borrowing costs capitalized. All other borrowing costs are recognized&#13;in interest expenses in the period in which they are incurred.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Government subsidies&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;A government subsidy is not recognized until&#13;there is reasonable assurance that: (a) the enterprise will comply with the conditions attached to the grant; and (b) the grant&#13;will be received. When the Company received the government subsidies but the conditions attached to the grants have not been fulfilled,&#13;such government subsidies are deferred and recorded under other payables and accrued expenses, and other long-term liability. The&#13;classification of short-term or long-term liabilities is depended on the management&amp;#8217;s expectation of when the conditions&#13;attached to the grant can be fulfilled. For the years ended December 31, 2018 and 2017, the Company received government subsidies&#13;of $241,189 and $41,529, which are recognized as subsidy income in the consolidated statements of income in that fiscal year.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Lease Obligations&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;All non-cancellable leases with an initial&#13;term greater than one year are categorized as either capital or operating leases. For the lessee, a lease is a capital lease if&#13;any of the following conditions exist: a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain&#13;purchase option, c) the lease term is at least 75% of the property&amp;#8217;s estimated remaining economic life or d) the present&#13;value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property&#13;to the lessor at the inception date. A capital lease is accounted for as if there was an acquisition of an asset and an incurrence&#13;of an obligation at the inception of the lease. All other leases are accounted for as operating leases. Assets recorded under capital&#13;leases are amortized according to the same depreciation methods employed for property, plant and equipment or over the term of&#13;the related lease, if shorter.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt"&gt;&amp;#160;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company defers any profit or loss from&#13;a sale-leaseback transaction unless any of the following conditions exist: a) the seller-lessee relinquishes the right to substantially&#13;all of the remaining use of the property sold retaining only a minor portion of such use; b) the seller-lessee retains more than&#13;a minor part but less than substantially all of the use of the property through the leaseback and realizes a profit on the sale&#13;in excess of the recorded amount of the leased assets; or c) the fair value of the property at the time of the transaction is less&#13;than its undepreciated cost, in which circumstance a loss shall be recognized immediately.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Income Taxes&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company accounts for income taxes pursuant&#13;to ASC Topic 740, Income Taxes. Income taxes are provided on an asset and liability approach for financial accounting and reporting&#13;of income taxes. Any tax paid by subsidiaries during the year is recorded. Current tax is based on the profit or loss from ordinary&#13;activities adjusted for items that are non-assessable or disallowable for income tax purpose and is calculated using tax rates&#13;that have been enacted or substantively enacted at the balance sheet date. ASC Topic 740 also requires the recognition of deferred&#13;tax assets and liabilities for both the expected impact of differences between the financial statements and the tax basis of assets&#13;and liabilities, and for the expected future tax benefit to be derived from tax losses and tax credit carry-forwards. ASC Topic&#13;740 additionally requires the establishment of a valuation allowance to reflect the likelihood of realization of deferred tax assets.&#13;Realization of deferred tax assets, including those related to the U.S. net operating loss carry-forwards, are dependent upon future&#13;earnings, if any, of which the timing and amount are uncertain.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company adopted ASC Topic 740-10-05,&lt;i&gt;&amp;#160;Income&#13;Tax&lt;/i&gt;, which provides guidance for recognizing and measuring uncertain tax positions, it prescribes a threshold condition that&#13;a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It&#13;also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company&amp;#8217;s policy on classification&#13;of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income&#13;tax expense.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Value Added Tax&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Both the PRC subsidiary and variable interest&#13;entity of the Company are subject to value added tax (&amp;#8220;VAT&amp;#8221;) imposed by the PRC government on its purchase and sales&#13;of goods. The output VAT is charged to customers who purchase goods from the Company and the input VAT is paid when the Company&#13;purchases goods from its vendors. VAT rate is 16% in general, depending on the types of products purchased and sold. The input&#13;VAT can be offset against the output VAT. Debit balance of VAT payable represents a credit against future collection of output&#13;VAT instead of a receivable due from government.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Comprehensive Income (Loss)&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company presents comprehensive income (loss)&#13;in accordance with ASC Topic 220,&lt;i&gt;&amp;#160;Comprehensive Income&lt;/i&gt;. ASC Topic 220 states that all items that are required to be&#13;recognized under accounting standards as components of comprehensive income (loss) be reported in the consolidated financial statements.&#13;The components of comprehensive income (loss) were the net income for the years and the foreign currency translation adjustments.&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.9pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Earnings Per Share&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Basic earnings per share is computed by dividing&#13;the net income attributable to the common stockholders by the weighted average number of shares of common stock outstanding during&#13;the period. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased&#13;to include the number of additional common shares that would have been outstanding if the potential common shares had been issued&#13;and if the additional common shares were dilutive.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Share-Based Compensation&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company uses the fair value recognition&#13;provision of ASC Topic 718,&lt;i&gt;&amp;#160;Compensation-Stock Compensation,&lt;/i&gt;&amp;#160;which requires the Company to expense the cost of&#13;employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments&#13;over the vesting period.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company also applies the provisions of&#13;ASC Topic 505-50,&lt;i&gt;&amp;#160;Equity Based Payments to Non-Employees&lt;/i&gt;&amp;#160;to account for stock-based compensation awards issued&#13;to non-employees for services. Such awards for services are recorded at either the fair value of the consideration received or&#13;the fair value of the instruments issued in exchange for such services, whichever is more reliably measurable.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;&lt;i&gt;Fair Value Measurements&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company has adopted ASC Topic 820, Fair&#13;Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value in GAAP, and expands&#13;disclosures about fair value measurements. It does not require any new fair value measurements, but provides guidance on how to&#13;measure fair value by providing a fair value hierarchy used to classify the source of the information. It establishes a three-level&#13;valuation hierarchy of valuation techniques based on observable and unobservable inputs, which may be used to measure fair value&#13;and include the following:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.4pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Level 1 - Quoted prices in active markets for&#13;identical assets or liabilities.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.4pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Level 2 - Inputs other than Level 1 that are&#13;observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that&#13;are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full&#13;term of the assets or liabilities.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.4pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Level 3 - Unobservable inputs that are supported&#13;by little or no market activity and that are significant to the fair value of the assets or liabilities.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Classification within the hierarchy is determined&#13;based on the lowest level of input that is significant to the fair value measurement.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company estimates the fair value of financial&#13;instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair&#13;value. Accordingly, the estimates of fair value may not be indicative of the amounts that the Company could realize in a current&#13;market exchange. As of December 31, 2018 and 2017, the carrying value of the Company&amp;#8217;s short term financial instruments,&#13;such as cash and bank balances, accounts receivable, accounts and notes payable, short-term bank loans and balance due to related&#13;parties, approximate at their fair values because of the short maturity of these instruments; while loans from credit union, loans&#13;from a related party and obligation under capital lease approximate at their fair value as the interest rates thereon are close&#13;to the market rates of interest published by the People&amp;#8217;s Bank of China.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0"&gt;The Company does not have any assets and liabilities measured at&#13;fair value on a recurring basis as of December 31, 2018 and 2017.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;i&gt;Non-Recurring Fair Value Measurements&lt;/i&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 62.7pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company reviews long-lived assets for&#13;impairment annually or more frequently if events or changes in circumstances indicate the possibility of impairment. For the continuing&#13;operations, long-lived assets are measured at fair value on a nonrecurring basis when there is an indicator of impairment, and&#13;they are recorded at fair value only when impairment is recognized. For discontinued operations, long-lived assets are measured&#13;at the lower of carrying amount or fair value less cost to sell. The fair value of these assets were determined using models with&#13;significant unobservable inputs which were classified as Level 3 inputs, primarily the discounted future cash flow.&lt;/p&gt;</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
    <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;b&gt;(6) Property, plant and equipment&lt;/b&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 34.1pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;As of December 31, 2018 and 2017, property,&#13;plant and equipment consisted of the following:&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 34.1pt"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;December&amp;#160;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;December&amp;#160;31,&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 10pt"&gt;Property, Plant, and Equipment:&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td style="width: 84%"&gt;&lt;font style="font-size: 10pt"&gt;Land use rights&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 10pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 5%; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;11,881,571&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&lt;font style="font-size: 10pt"&gt;$&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 5%; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;12,479,814&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 10pt"&gt;Building and improvements&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;94,127,348&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;98,866,703&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 10pt"&gt;Machinery and equipment&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;147,383,943&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;118,670,578&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 10pt"&gt;Vehicles&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;597,484&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;593,265&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 10pt"&gt;Construction in progress&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;5,005,041&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;36,077,498&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td&gt;&lt;font style="font-size: 10pt"&gt;&lt;b&gt;Totals&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;258,995,387&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;266,687,858&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: #CCEEFF"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 10pt"&gt;Less: accumulated depreciation and amortization&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;(91,165,671&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1.5pt solid; text-align: right"&gt;&lt;font style="font-size: 10pt"&gt;(77,299,149&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;&lt;font style="font-size: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: white"&gt;&#13;    &lt;td style="padding-bottom: 4pt"&gt;&lt;font style="font-size: 10pt"&gt;Property, Plant and Equipment, net&lt;/font&gt;&lt;/td&gt;&#13; 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margin: 0; text-align: justify"&gt;As of December 31, 2018 and December 31, 2017,&#13;land use rights represented two parcel of state-owned lands located in Xushui District of Hebei Province in China, with lease terms&#13;of 50 years expiring from 2061 to 2066.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Construction in progress as of December 31,&#13;2017 mainly represents payments for the new 15,000 tonnes per year tissue paper manufacturing equipment PM8, the tissue paper workshops&#13;and general infrastructure and administrative facilities in the Wei County Industrial Park. In December 2018, the Company announced&#13;commercial launch of PM8 and the related cost of construction in progress were capitalized as machinery and equipment costs.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;As of December 31, 2018 and 2017, certain property,&#13;plant and equipment of Dongfang Paper with net values of $5,782,640 and $7,963,285, respectively, have been pledged pursuant to&#13;a long-term loan from credit union of Dongfang Paper. Land use right of Dongfang Paper with net values of $5,990,586 and $6,437,419&#13;as of December 31, 2018 and 2017 were pledged for the bank loan from Bank of Industrial &amp;#38; Commercial Bank of China. In addition,&#13;plant and equipment of Baoding Shengde with net values of $12,939,899 and $nil as of December 31, 2018 and 2017, respectively,&#13;and another land use right with net value of $4,762,300 and $nil as of December 31, 2018 and 2017 were pledged for the bank loan&#13;from Bank of Cangzhou. See &amp;#8220;&lt;i&gt;Short-term bank loans&lt;/i&gt;&amp;#8221; under Note (7), Loans Payable, for details of the transaction&#13;and asset collaterals.&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Depreciation and amortization of property,&#13;plant and equipment was $14,290,919 and $14,633,780 for the years ended December 31, 2018 and 2017, respectively. Impairment loss&#13;was recorded for certain inactive production line in the amount of $3,894,461 and $2,291,027 for the years ended December 31,&#13;2018 and 2017, respectively.&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
    <us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(1)&#13;Organization and Business Background&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;IT&#13;Tech Packaging, Inc. (the Company) was incorporated in the State of Nevada on December 9, 2005, under the name &amp;#8220;Carlateral,&#13;Inc.&amp;#8221; Through the steps described immediately below, we became the holding company for Hebei Baoding Dongfang Paper Milling&#13;Company Limited (&amp;#8220;Dongfang Paper&amp;#8221;), a producer and distributor of paper products in China, on October 29, 2007, and&#13;effective December 21, 2007, we changed our name to &amp;#8220;Orient Paper, Inc.&amp;#8221;.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Effective&#13;on August 1, 2018, we changed our corporate name to IT Tech Packaging, Inc.. The name change was effected through a parent/subsidiary&#13;short-form merger of IT Tech Packaging, Inc., our wholly-owned Nevada subsidiary formed solely for the purpose of the name change,&#13;with and into us. We were the surviving entity. In connection with the name change, our common stock began being traded under&#13;a new NYSE symbol, &amp;#8220;ITP,&amp;#8221; and a new CUSIP number, 46527C100, at such time.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;October 29, 2007, pursuant to an agreement and plan of merger (the &amp;#8220;Merger Agreement&amp;#8221;), the Company acquired Dongfang&#13;Zhiye Holding Limited (&amp;#8220;Dongfang Holding&amp;#8221;), a corporation formed on November 13, 2006 under the laws of the British&#13;Virgin Islands, and issued the shareholders of Dongfang Holding an aggregate of 7,450,497 (as adjusted for a four-for-one reverse&#13;stock split effected in November 2009) shares of our common stock, which shares were distributed pro-rata to the shareholders&#13;of Dongfang Holding in accordance with their respective ownership interests in Dongfang Holding. At the time of the Merger Agreement,&#13;Dongfang Holding owned all of the issued and outstanding stock and ownership of Dongfang Paper and such shares of Dongfang Paper&#13;were held in trust with Zhenyong Liu, Xiaodong Liu and Shuangxi Zhao, for Mr. Liu, Mr. Liu and Mr. Zhao (the original shareholders&#13;of Dongfang Paper) to exercise control over the disposition of Dongfang Holding&amp;#8217;s shares in Dongfang Paper on Dongfang Holding&amp;#8217;s&#13;behalf until Dongfang Holding successfully completed the change in registration of Dongfang Paper&amp;#8217;s capital with the relevant&#13;PRC Administration of Industry and Commerce as the 100% owner of Dongfang Paper&amp;#8217;s shares. As a result of the merger transaction,&#13;Dongfang Holding became a wholly owned subsidiary of the Company, and Dongfang Holding&amp;#8217;s wholly owned subsidiary, Dongfang&#13;Paper, became an indirectly owned subsidiary of the Company.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;Holding, as the 100% owner of Dongfang Paper, was unable to complete the registration of Dongfang Paper&amp;#8217;s capital under&#13;its name within the proper time limits set forth under PRC law. In connection with the consummation of the restructuring transactions&#13;described below, Dongfang Holding directed the trustees to return the shares of Dongfang Paper to their original shareholders,&#13;and the original Dongfang Paper shareholders entered into certain agreements with Baoding Shengde Paper Co., Ltd. (&amp;#8220;Baoding&#13;Shengde&amp;#8221;) to transfer the control of Dongfang Paper over to Baoding Shengde.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;June 24, 2009, the Company consummated a number of restructuring transactions pursuant to which it acquired all of the issued&#13;and outstanding shares of Shengde Holdings Inc, a Nevada corporation. Shengde Holdings Inc was incorporated in the State of Nevada&#13;on February 25, 2009. On June 1, 2009, Shengde Holdings Inc incorporated Baoding Shengde, a limited liability company organized&#13;under the laws of the PRC. Because Baoding Shengde is a wholly-owned subsidiary of Shengde Holdings Inc, it is regarded as a wholly&#13;foreign-owned entity under PRC law.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;To&#13;ensure proper compliance of the Company&amp;#8217;s control over the ownership and operations of Dongfang Paper with certain PRC regulations,&#13;on June&amp;#160;24, 2009, the Company entered into a series of contractual agreements (the &amp;#8220;Contractual Agreements&amp;#8221;)&#13;with Dongfang Paper and Dongfang Paper Equity Owners via the Company&amp;#8217;s wholly owned subsidiary Shengde Holdings Inc (&amp;#8220;Shengde&#13;Holdings&amp;#8221;) a Nevada corporation and Baoding Shengde Paper Co., Ltd. (&amp;#8220;Baoding Shengde&amp;#8221;), a wholly foreign-owned&#13;enterprise in the PRC with an original registered capital of $10,000,000 (subsequently increased to $60,000,000 in June 2010).&#13;Baoding Shengde is mainly engaged in production and distribution of digital photo paper and is 100% owned by Shengde Holdings.&#13;Prior to February 10, 2010, the Contractual Agreements included (i) Exclusive Technical Service and Business Consulting Agreement,&#13;which generally provides that Baoding Shengde shall provide exclusive technical, business and management consulting services to&#13;Dongfang Paper, in exchange for service fees including a fee equivalent to 80% of Dongfang Paper&amp;#8217;s total annual net profits;&#13;(ii) Loan Agreement, which provides that Baoding Shengde will make a loan in the aggregate principal amount of $10,000,000 to&#13;Dongfang Paper Equity Owners in exchange for each such shareholder agreeing to contribute all of its proceeds from the loan to&#13;the registered capital of Dongfang Paper; (iii) Call Option Agreement, which generally provides, among other things, that Dongfang&#13;Paper Equity Owners irrevocably grant to Baoding Shengde an option to purchase all or part of each owner&amp;#8217;s equity interest&#13;in Dongfang Paper. The exercise price for the options shall be RMB1 which Baoding Shengde should pay to each of Dongfang Paper&#13;Equity Owner for all their equity interests in Dongfang Paper; (iv) Share Pledge Agreement, which provides that Dongfang Paper&#13;Equity Owners will pledge all of their equity interests in Dongfang Paper to Baoding Shengde as security for their obligations&#13;under the other agreements described in this section. Specifically, Baoding Shengde is entitled to dispose of the pledged equity&#13;interests in the event that Dongfang Paper Equity Owners breach their obligations under the Loan Agreement or Dongfang Paper fails&#13;to pay the service fees to Baoding Shengde pursuant to the Exclusive Technical Service and Business Consulting Agreement; and&#13;(v) Proxy Agreement, which provides that Dongfang Paper Equity Owners shall irrevocably entrust a designee of Baoding Shengde&#13;with such shareholder&amp;#8217;s voting rights and the right to represent such shareholder to exercise such owner&amp;#8217;s rights&#13;at any equity owners&amp;#8217; meeting of Dongfang Paper or with respect to any equity owner action to be taken in accordance with&#13;the laws and Dongfang Paper&amp;#8217;s Articles of Association. The terms of the agreement are binding on the parties for as long&#13;as Dongfang Paper Equity Owners continue to hold any equity interest in Dongfang Paper. A Dongfang Paper Equity Owner will cease&#13;to be a party to the agreement once it transfers its equity interests with the prior approval of Baoding Shengde. As the Company&#13;had controlled Dongfang Paper since July 16, 2007 through Dongfang Holding and the trust until June 24, 2009, and continues to&#13;control Dongfang Paper through Baoding Shengde and the Contractual Agreements, the execution of the Contractual Agreements is&#13;considered as a business combination under common control.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;February 10, 2010, Baoding Shengde and the Dongfang Paper Equity Owners entered into a Termination of Loan Agreement to terminate&#13;the above-mentioned $10,000,000 Loan Agreement. Because of the Company&amp;#8217;s decision to fund future business expansions through&#13;Baoding Shengde instead of Dongfang Paper, the $10,000,000 loan contemplated was never made prior to the point of termination.&#13;The parties believe the termination of the Loan Agreement does not in itself compromise the effective control of the Company over&#13;Dongfang Paper and its businesses in the PRC.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;An&#13;agreement was also entered into among Baoding Shengde, Dongfang Paper and the Dongfang Paper Equity Owners on December 31, 2010,&#13;reiterating that Baoding Shengde is entitled to 100% of the distributable profit of Dongfang Paper, pursuant to the above mentioned&#13;Contractual Agreements. In addition, Dongfang Paper and the Dongfang Paper Equity Owners shall not declare any of Dongfang Paper&amp;#8217;s&#13;unappropriated earnings as dividend, including the unappropriated earnings of Dongfang Paper from its establishment to 2010 and&#13;thereafter.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company has no direct equity interest in Dongfang Paper. However, through the Contractual Agreements described above, the Company&#13;is found to be the primary beneficiary (the &amp;#8220;Primary Beneficiary&amp;#8221;) of Dongfang Paper and is deemed to have the effective&#13;control over Dongfang Paper&amp;#8217;s activities that most significantly affect its economic performance, resulting in Dongfang&#13;Paper being treated as a controlled variable interest entity of the Company in accordance with Topic 810 - Consolidation of the&#13;Accounting Standards Codification (the &amp;#8220;ASC&amp;#8221;) issued by the Financial Accounting Standard Board (the &amp;#8220;FASB&amp;#8221;).&#13;The revenue generated from Dongfang Paper for the years ended December 31, 2018 and 2017 was accounted for 99.98% and 100% of&#13;the Company&amp;#8217;s total revenue, respectively. Dongfang Paper also accounted for 90.60% and 87.96% of the total assets of the&#13;Company as of December 31, 2018 and 2017, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018 and 2017, details of the Company&amp;#8217;s subsidiaries and variable interest entity are as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Date&#13;    of Incorporation&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Place&#13;                                         of&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;        &lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Incorporation&amp;#160;or&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Percentage&amp;#160;of&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Name&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;or&amp;#160;Establishment&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Establishment&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Ownership&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;Principal&amp;#160;Activity&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Subsidiary:&lt;/i&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 26%; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;    Holding&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;November&amp;#160;13,&amp;#160;2006&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;BVI&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 5%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;100&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Inactive&#13;    investment holding&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Shengde&#13;    Holdings&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;February&#13;    25, 2009&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;State&#13;    of Nevada&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;100&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Investment&#13;    holding&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Baoding&#13;    Shengde&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;June&#13;    1, 2009&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;PRC&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;100&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Paper&amp;#160;production&amp;#160;and&amp;#160;distribution&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Variable&#13;    interest entity (&amp;#8220;VIE&amp;#8221;):&lt;/i&gt;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;    Paper&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;March&#13;    10, 1996&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;PRC&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Control&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;*&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Paper&#13;    production and distribution&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"&gt;&lt;tr style="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif"&gt;&#13;&lt;td style="width: 0; font-family: Times New Roman, Times, Serif"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;*&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;                                         Paper is treated as a 100% controlled variable interest entity of the Company.&lt;/font&gt;&lt;/td&gt;&#13;&lt;/tr&gt;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;However,&#13;uncertainties in the PRC legal system could cause the Company&amp;#8217;s current ownership structure to be found to be in violation&#13;of any existing and/or future PRC laws or regulations and could limit the Company&amp;#8217;s ability, through its subsidiary, to&#13;enforce its rights under these contractual arrangements. Furthermore, shareholders of the VIE may have interests that are different&#13;than those of the Company, which could potentially increase the risk that they would seek to act contrary to the terms of the&#13;aforementioned agreements.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;In&#13;addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future&#13;PRC law, the Company may be subject to penalties, which may include, but not be limited to, the cancellation or revocation of&#13;the Company&amp;#8217;s business and operating licenses, being required to restructure the Company&amp;#8217;s operations or being required&#13;to discontinue the Company&amp;#8217;s operating activities. The imposition of any of these or other penalties may result in a material&#13;and adverse effect on the Company&amp;#8217;s ability to conduct its operations. In such case, the Company may not be able to operate&#13;or control the VIE, which may result in deconsolidation of the VIE. The Company believes the possibility that it will no longer&#13;be able to control and consolidate its VIE will occur as a result of the aforementioned risks and uncertainties is remote.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company has aggregated the financial information of Dongfang Paper in the table below. The aggregate carrying value of Dongfang&#13;Paper&amp;#8217;s assets and liabilities (after elimination of intercompany transactions and balances) in the Company&amp;#8217;s consolidated&#13;balance sheets as of December 31, 2018 and 2017 are as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(&#13;    Unaudited)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cash&#13;    and bank balances&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,328,980&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,681,942&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Restricted&#13;    cash&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,642,616&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,121,637&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accounts&#13;    receivable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,876,632&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,843,682&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Inventories&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,906,004&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;8,431,972&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepayments&#13;    and other current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,219,395&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;646,598&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;23,973,627&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;19,725,831&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Property,&#13;    plant, and equipment, net&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;153,302,061&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;167,727,768&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Deferred&#13;    tax asset non-current&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,711,412&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,167,288&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;183,987,100&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;192,620,887&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;LIABILITIES&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Short-term&#13;    bank loans&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;11,802,075&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,192,923&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    portion of long-term loans from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;189,416&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,142,175&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accounts&#13;    payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;629,054&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;422,705&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Notes&#13;    payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,642,616&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,121,637&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Due&#13;    to related parties&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;203,188&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;60,378&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    payroll and employee benefits&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;208,660&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;227,163&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Other&#13;    payables and accrued liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;10,222,766&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;836,309&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Income&#13;    taxes payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;219,305&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;519,365&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;27,117,080&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;20,522,655&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Loans&#13;    from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,706,259&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Loans&#13;    from a related party&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,185,569&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;10,712,865&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;34,008,908&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;31,235,520&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company and its consolidated subsidiaries are not required to provide financial support to the VIE, and no creditor (or beneficial&#13;interest holders) of the VIE have recourse to the assets of Company unless the Company separately agrees to be subject to such&#13;claims. There are no terms in any agreements or arrangements, implicit or explicit, which require the Company or its subsidiaries&#13;to provide financial support to the VIE. However, if the VIE does require financial support, the Company or its subsidiaries may,&#13;at its option and subject to statutory limits and restrictions, provide financial support to the VIE.&lt;/font&gt;&lt;/p&gt;</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
    <us-gaap:DebtDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(7)&#13;Loans Payable&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Short-term&#13;bank loans&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 70%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Industrial&#13;    and Commercial Bank of China (&amp;#8220;ICBC&amp;#8221;) Loan 1&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 5%; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(a)&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,285,145&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ICBC&#13;    Loan 2&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(b)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,907,778&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Bank of Cangzhou&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(c)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,099,662&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ICBC&#13;    Loan 3&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(d)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,079,730&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ICBC&#13;    Loan 4&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(e)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,622,683&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    short-term bank loans&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 4pt; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;11,802,075&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,192,923&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(a)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as&#13;    of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral&#13;    for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January&#13;    8, 2018.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(b)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $- and&#13;    $2,907,778 as     of December 31, 2018 and December 31, 2017. The working capital loan is secured by the Company&amp;#8217;s land&#13;    use right as collateral     for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan&#13;    was due and repaid on October     12, 2018.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(c)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn&#13;    on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per&#13;    annum. The working capital loan is secured by the Company&amp;#8217;s land use right and guaranteed by the Company&amp;#8217;s CEO&#13;    and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on&#13;    January 3, 2019.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(d)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as&#13;    of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral&#13;    for the benefit of the bank. The loan bears a fixed interest rate of 5.4% per annum. The loan was due and repaid on January&#13;    28, 2019.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(e)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as&#13;    of December 31, 2018. The working capital loan is secured by the Company&amp;#8217;s land use right as collateral for the benefit&#13;    of the bank. The loan bears a fixed interest rate of 4.741% per annum. The loan will be due on November 26, 2019.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018, there were guaranteed short-term borrowings of $11,802,075 and unsecured bank loans of $nil. As of December&#13;31, 2017, there were guaranteed short-term borrowings of $7,192,923 and unsecured bank loans of $nil.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;average short-term borrowing rates for the years ended December 31, 2018 and 2017 were approximately 5.66% and 5.27%, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Long-term&#13;loans from credit union&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018 and 2017, loans payable to Rural Credit Union of Xushui County, amounted to $7,197,808 and $7,560,221, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Rural&#13;    Credit Union of Xushui District Loan 1&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,253,060&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,316,152&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Rural&#13;    Credit Union of Xushui District Loan 2&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,642,615&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,826,022&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Rural&#13;    Credit Union of Xushui District Loan 3&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,302,133&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,418,047&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,197,808&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,560,221&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Less:&#13;    Current portion of long-term loans from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(2,491,549&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(6,366,502&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Long-term&#13;    loans from credit union&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,706,259&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,193,719&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018, the Company&amp;#8217;s long-term debt repayments for the next five years were as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&lt;b&gt;Fiscal year&lt;/b&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;Amount&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 91%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2019&lt;/td&gt;&lt;td style="width: 0%; font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;2,491,549&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2020&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;131,134&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2021&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;203,986&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;2022&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;1,602,751&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;2023&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"&gt;2,768,388&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;Total&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"&gt;7,197,808&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;April 16, 2014, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,&#13;which is payable in various installments from June 21, 2014 to November 18, 2018. The loan is guaranteed by an independent third&#13;party. Interest payment is due quarterly and bears the rate of 0.64% per month. On November 6, 2018, the loan was renewed for&#13;additional 5 years and will be due and payable in various installments from December 21, 2018 to November 5, 2023. As of December&#13;31, 2018 and 2017, total outstanding loan balance was $1,253,060 and $1,316,152, respectively, Out of the total outstanding loan&#13;balance, current portion amounted were $nil and $1,316,152 as of December 31, 2018 and 2017, respectively, which are presented&#13;as current liabilities in the consolidated balance sheet and the remaining balance of $1,253,060 and $nil are presented as non-current&#13;liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;July 15, 2013, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,&#13;which was originally due and payable in various installments from December 21, 2013 to July 26, 2018. On June 21, 2018, the loan&#13;was extended for additional 5 years and will be due and payable in various installments from December 21, 2018 to June 20, 2023.&#13;The loan is secured by certain of the Company&amp;#8217;s manufacturing equipment with net book value of $5,782,640 and $7,963,285&#13;as of December 31, 2018 and 2017, respectively. Interest payment is due quarterly and bears a fixed rate of 0.64% per month. As&#13;of December 31, 2018 and 2017, the total outstanding loan balance was $3,642,615 and $3,826,022, respectively. Out of the total&#13;outstanding loan balance, current portion amounted were $nil and $3,826,022 as of December 31, 2018 and 2017, respectively, which&#13;are presented as current liabilities in the consolidated balance sheet and the remaining balance of $3,642,615 and $nil are presented&#13;as non-current liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;April 20, 2017, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 2 years,&#13;which is due and payable in various installments from August 26, 2017 to April 19, 2019. The loan is guaranteed by Hebei Tengsheng&#13;with its land use right pledged as collateral for the benefit of the bank. Interest payment is due quarterly and bears a fixed&#13;rate of 0.6% per month. As of December 31, 2018 and December 31, 2017, the total outstanding loan balance was $2,302,133 and $2,418,047,&#13;respectively. Out of the total outstanding loan balance, current portion amounted were $2,302,133 and $1,224,328 as of December&#13;31, 2018 and December 31, 2017, respectively, which are presented as current liabilities in the consolidated balance sheet and&#13;the remaining balance of $nil and $1,193,719 are presented as non-current liabilities in the consolidated balance sheet as of&#13;September 30, 2018 and December 31, 2017, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;interest expenses for the short-term bank loans and long-term loans for the years ended December 31, 2018 and 2017 were $1,214,708&#13;and $1,196,814, respectively.&lt;/font&gt;&lt;/p&gt;</us-gaap:DebtDisclosureTextBlock>
    <us-gaap:ScheduleOfShortTermDebtTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 70%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Industrial&#13;    and Commercial Bank of China (&amp;#8220;ICBC&amp;#8221;) Loan 1&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 5%; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(a)&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,285,145&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ICBC&#13;    Loan 2&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(b)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,907,778&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Bank of Cangzhou&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(c)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,099,662&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ICBC&#13;    Loan 3&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(d)&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,079,730&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ICBC&#13;    Loan 4&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 1.5pt; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(e)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,622,683&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    short-term bank loans&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="padding-bottom: 4pt; text-align: center; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;11,802,075&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;7,192,923&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(a)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as&#13;    of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral&#13;    for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January&#13;    8, 2018.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(b)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $- and&#13;    $2,907,778 as     of December 31, 2018 and December 31, 2017. The working capital loan is secured by the Company&amp;#8217;s land&#13;    use right as collateral     for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan&#13;    was due and repaid on October     12, 2018.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(c)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn&#13;    on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per&#13;    annum. The working capital loan is secured by the Company&amp;#8217;s land use right and guaranteed by the Company&amp;#8217;s CEO&#13;    and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on&#13;    January 3, 2019.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse"&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(d)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as&#13;    of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral&#13;    for the benefit of the bank. The loan bears a fixed interest rate of 5.4% per annum. The loan was due and repaid on January&#13;    28, 2019.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: top; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(e)&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;    November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as&#13;    of December 31, 2018. The working capital loan is secured by the Company&amp;#8217;s land use right as collateral for the benefit&#13;    of the bank. The loan bears a fixed interest rate of 4.741% per annum. The loan will be due on November 26, 2019.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfShortTermDebtTextBlock>
    <us-gaap:IncomeTaxDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(14)&#13;Income Taxes&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;United&#13;States&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company and Shengde Holdings are incorporated in the State of Nevada and are subject to the U.S. federal tax and state statutory&#13;tax rates up to 34% and 0%, respectively. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the &amp;#8220;2017 TCJAAct&amp;#8221;),&#13;which significantly changed U.S. tax law. The Act 2017 TCJA lowered the Company&amp;#8217;s U.S. statutory federal income tax rate&#13;from the highest rate of 35% to 21% effective January 1, 2018, while also imposing a deemed repatriation tax on deferred foreign&#13;income which requires companies to pay a one-time transition tax on previously unremitted earnings of non-U.S. subsidiaries that&#13;were previously tax deferred and creates new taxes on certain foreign sourced earnings. The SEC staff issued Staff Accounting&#13;Bulletin (SAB) 118, which provides guidance on accounting for enactment effects of the 2017 TCJA. SAB 118 provides a measurement&#13;period of up to one year from the 2017 TCJA&amp;#8217;s enactment date for companies to complete their accounting under ASC 740. In&#13;accordance with SAB 118, to the extent that a company&amp;#8217;s accounting for certain income tax effects of the 2017 TCJA is incomplete&#13;but it is able to determine a reasonable estimate, it must record a provisional estimate in its financial statements. If a company&#13;cannot determine a provisional estimate to be included in its financial statements, it should continue to apply ASC 740 on the&#13;basis of the provisions of the tax laws that were in effect immediately before the enactment of the 2017 TCJA.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;In&#13;connection with the Company&amp;#8217;s initial analysis of the impact of the enactment of the 2017 TCJA, the Company recorded a net&#13;tax expense of approximately $80,000 in the fourth quarter of 2017. For various reasons that are discussed more fully below, including&#13;the issuance of additional technical and interpretive guidance, the Company has not completed its accounting for the income tax&#13;effects of certain elements of the 2017 TCJA. However, with respect to the following, the Company was able to make reasonable&#13;estimates of the 2017 TCJA&amp;#8217;s effects and, as such, recorded provisional amounts:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Transition&#13;tax: The transition tax is a tax on previously untaxed accumulated and current earnings and profits (E&amp;#38;P) of certain of the&#13;Company&amp;#8217;s non-U.S. subsidiaries. To determine the amount of the transition tax, the Company must determine, in addition&#13;to other factors, the amount of post-1986 E&amp;#38;P of the relevant subsidiaries, as well as the amount of non-U.S. income taxes&#13;paid on such earnings. Further, the transition tax is based in part on the amount of those earnings held in cash and other specified&#13;assets. The Company was able to make a reasonable estimate of the transition tax and recorded a provisional obligation and additional&#13;income tax expense of approximately $80,000 in the fourth quarter of 2017. However, the Company is continuing to gather additional&#13;information and will consider additional technical guidance to more precisely compute and account for the amount of the transition&#13;tax. This amount may change when the Company finalizes the calculation of post-1986 foreign E&amp;#38;P previously deferred from U.S.&#13;federal taxation and finalizes the amounts held in cash or other specified assets. The 2017 TCJA&amp;#8217;s transition tax is payable&#13;over eight years beginning in 2018. Hence, the Company only provided $6,528 for the year ended 31 December 2017.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;PRC&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&#13;Paper and Baoding Shengde are PRC operating companies and are subject to PRC Enterprise Income Tax. Pursuant to the PRC New Enterprise&#13;Income Tax Law, Enterprise Income Tax is generally imposed at a statutory rate of 25%.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;provisions for income taxes for the years ended December 31, 2018 and 2017 were as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center"&gt;Year Ended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left"&gt;Provision for Income Taxes&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left"&gt;Current Tax Provision U.S.&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;8,189&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,528&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Current Tax Provision PRC&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;230,322&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,519,311&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Deferred Tax Provision PRC&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,089,439&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(2,863,011&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total Provision for (Deferred tax benefit)/ Income Taxes&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;(1,850,928&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;662,828&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In addition to the reversible future PRC&#13;income tax benefits stemming from the timing differences of items such as recognition of asset disposal gain or loss and asset&#13;depreciation, the Company was incorporated in the United States and carried net operating losses of approximately $8,024,104 and&#13;$7,119,918 for U.S. income tax purposes as of December 31, 2018 and 2017, respectively. The net operating loss carried forward&#13;may be available to reduce future years&amp;#8217; taxable income. These carry forwards would expire, if not utilized, beginning in&#13;2030. Since management believed that the realization of all the U.S. income tax benefits from these losses, which generally would&#13;generate a deferred tax asset if it can be expected to be utilized in the future, appears not more than likely due to the Company&amp;#8217;s&#13;limited operating history and continuing losses for United States income tax purposes, the Company has not recognized deferred&#13;tax assets for such net operating losses. A summary of the otherwise deductible (or taxable) deferred tax items is as follows:&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December&amp;#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td style="font-weight: bold"&gt;Deferred tax assets&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="text-align: right"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left; padding-left: 9pt"&gt;Depreciation and amortization of property, plant and equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,097,828&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;5,123,762&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-left: 9pt"&gt;Impairment of property, plant and equipment&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;546,531&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;440,080&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="padding-left: 9pt"&gt;Miscellaneous&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;289,799&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;712,517&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-left: 9pt"&gt;Net operating loss carryover of PRC company&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;342,933&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;296,200&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt"&gt;Net operating loss carryover for U.S. income tax purposes&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Total deferred tax assets&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,277,091&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,572,559&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: Valuation allowance&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 4pt"&gt;Total deferred tax assets, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;8,277,091&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;$&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;6,572,559&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;following table reconciles the statutory rates to the Company&amp;#8217;s effective tax rate as of:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center"&gt;Year ended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2017&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 76%; text-align: left"&gt;PRC Statutory rate&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;25.0&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;%&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;25.0&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Effect of the U.S. Transition Tax under the 2017 TCJA&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8.6&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left"&gt;Effect of different tax jurisdiction&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(0.8&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Effect of expenses not deductible for PRC tax purposes&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;31.3&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(6.2&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left"&gt;(Over) Under-provision in previous year&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1.1&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left"&gt;Change in valuation allowance&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3.0&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="padding-bottom: 1.5pt"&gt;Other&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(38.7&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3.0&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 4pt"&gt;Effective income tax rate&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;17.6&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;28.5&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2017, except for the one-time transition tax under the 2017 TCJA which imposes a U.S. tax liability on all unrepatriated&#13;foreign E&amp;#38;Ps, the Company does not believe that its future dividend policy and the available U.S. tax deductions and net operating&#13;losses will cause the Company to recognize any other substantial current U.S. federal or state corporate income tax liability&#13;in the near future. Nor does it believes that the amount of the repatriation of the VIE&amp;#8217;s earnings and profits for purposes&#13;of paying dividends will change the Company&amp;#8217;s position that its PRC subsidiary Baoding Shengde and the VIE, Dongfang Paper&#13;are considered or are expected to be indefinitely reinvested offshore to support our future capacity expansion. If these earnings&#13;are repatriated to the U.S. resulting in U.S. taxable income in the future, or if it is determined that such earnings are to be&#13;remitted in the foreseeable future, additional tax provisions would be required.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;#160;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;During the years ended December 31, 2018&#13;and 2017, the effective income tax rate was estimated by the Company to be 17.6% and 28.5%, respectively.&lt;/p&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company has adopted ASC Topic 740-10-05, Income Taxes. To date, the adoption of this interpretation has not impacted the Company&amp;#8217;s&#13;financial position, results of operations, or cash flows. The Company performed self-assessment and the Company&amp;#8217;s liability&#13;for income taxes includes the liability for unrecognized tax benefits, interest and penalties which relate to tax years still&#13;subject to review by taxing authorities. Audit periods remain open for review until the statute of limitations has passed, which&#13;in the PRC is usually 5 years. The completion of review or the expiration of the statute of limitations for a given audit period&#13;could result in an adjustment to the Company&amp;#8217;s liability for income taxes. Any such adjustment could be material to the&#13;Company&amp;#8217;s results of operations for any given quarterly or annual period based, in part, upon the results of operations&#13;for the given period. As of December 31, 2018 and 2017, management considered that the Company had no uncertain tax positions&#13;affecting its consolidated financial position and results of operations or cash flows, and will continue to evaluate for any uncertain&#13;position in future. There are no estimated interest costs and penalties provided in the Company&amp;#8217;s consolidated financial&#13;statements for the years ended December 31, 2018 and 2017, respectively. The Company&amp;#8217;s tax positions related to open tax&#13;years are subject to examination by the relevant tax authorities and the major one is the China Tax Authority.&lt;/font&gt;&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
    <itp:DescriptionOfCarryForwardsExpire contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">These carry forwards would expire, if not utilized, beginning in 2030.</itp:DescriptionOfCarryForwardsExpire>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(16)&#13;Commitments and Contingencies&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Operating&#13;Lease&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company leases 32.95 acres of land from a local government in Xushui District, Baoding City, Hebei, China through a real estate&#13;lease with a 30-year term, which expires on December 31, 2031. The lease requires an annual rental payment of approximately $18,089&#13;(RMB 120,000). This operating lease is renewable at the end of the 30-year term.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;O&#13;November 27, 2012, the company entered into a 49.4 acres land lease with an investment company in the Economic Development Zone&#13;in Wei County, Hebei Province, China. The lease term of the Wei County land lease commences on the date of the lease and lasts&#13;for 15 years. The lease requires an annual rental payment of $542,675 (RMB 3,600,000). The Company is currently building two new&#13;tissue paper production lines and future production facilities in the leased Wei County land.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;mentioned in Note (8) Related Party Transactions, in connection with the sale of Industrial Buildings to Hebei Fangsheng, Hebei&#13;Fangsheng agrees to lease the Industrial Buildings back to the Company at an annual rental of $150,743 (RMB 1,000,000), for a&#13;total term of up to five years.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Future&#13;minimum lease payments are as follows:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Thereafter&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,194,312&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    operating lease payments&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,904,417&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Capital&#13;commitment&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;As&#13;of December 31, 2018, the Company has signed several contracts for improvement of Industrial Buildings. Total outstanding commitments&#13;under these contracts were $2,300,187 and $11,227,896 as of December 31, 2018 and 2017, respectively. The Company expected to&#13;pay off all the balances within 1 year.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;i&gt;Guarantees&#13;and Indemnities&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company agreed with Baoding Huanrun Trading Co., a major supplier of raw materials, to guarantee certain obligations of this third&#13;party, and as of December 31, 2018 and 2017, the Company guaranteed its long-term loan from financial institutions amounting to&#13;$4,516,843 (RMB31,000,000) and $8,159,459 (RMB56,000,000) that matured at various times in 2023. If Huanrun Trading Co., were&#13;to become insolvent, the Company could be materially adversely affected.&lt;/font&gt;&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Amount&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2019&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2020&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2022&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2023&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;542,021&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Thereafter&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,194,312&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    operating lease payments&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,904,417&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
    <us-gaap:SegmentReportingDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(17)&#13;Segment Reporting&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Since&#13;March 10, 2010, Baoding Shengde started its operations and thereafter the Company manages its operations through two business&#13;operating segments: Dongfang Paper, which produces offset printing paper and corrugating medium paper, and Baoding Shengde, which&#13;produces digital photo paper. They are managed separately because each business requires different technology and marketing strategies.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company evaluates performance of its operating segments based on net income. Administrative functions such as finance, treasury,&#13;and information systems are centralized. However, where applicable, portions of the administrative function expenses are allocated&#13;between the operating segments based on gross revenue generated. The operating segments do share facilities in Xushui County,&#13;Baoding City, Hebei Province, China. All sales were sold to customers located in the PRC.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Summarized&#13;financial information for the two reportable segments is as follows:&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font-weight: bold; text-align: center"&gt;Year Ended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Dongfang&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Baoding&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Not&amp;#160;Attributable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Elimination of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Enterprise-wide,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Paper&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Shengde&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;to&amp;#160;Segments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Inter-segment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;consolidated&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 40%; text-indent: -9pt; padding-left: 9pt"&gt;Revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;86,733,136&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;13,622&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;-&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;86,746,758&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Gross profit&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,823,725&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,324&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,820,401&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Depreciation and amortization&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,557,960&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;732,959&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,290,919&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Loss from &amp;#160;impairment and disposal of property, plant&#13;    and equipment&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,881&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,894,461&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,904,342&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest income&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,234&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;398&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,632&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest expense&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,318,252&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;173,867&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,492,119&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Income tax expense(benefit)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,623,468&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(235,649&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,189&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,850,928&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Net income (loss)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,029,497&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,612,001&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(904,186&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,545,684&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total Assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;183,987,100&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,068,788&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,122&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;203,076,010&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Year&#13;    Ended&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Baoding&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Not&amp;#160;Attributable&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Elimination&#13;    of&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Enterprise-wide,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Paper&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Shengde&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;to&amp;#160;Segments&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Inter-segment&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;consolidated&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 40%; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Revenues&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;117,023,578&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;117,023,578&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Gross&#13;    profit&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;19,955,951&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;19,955,951&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Depreciation&#13;    and amortization&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;13,719,661&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;914,119&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;14,633,780&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Loss&#13;    from impairment and disposal of property, plant and equipment&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,896,320&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,071,969&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,968,289&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; 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text-align: right; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;218,989,481&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
    <us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font-weight: bold; text-align: center"&gt;Year Ended&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;December 31, 2018&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Dongfang&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Baoding&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Not&amp;#160;Attributable&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Elimination of&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;Enterprise-wide,&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Paper&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Shengde&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;to&amp;#160;Segments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Inter-segment&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;consolidated&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom"&gt;&#13;    &lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="width: 40%; text-indent: -9pt; padding-left: 9pt"&gt;Revenues&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;86,733,136&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;13,622&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;-&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;86,746,758&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Gross profit&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,823,725&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(3,324&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;5,820,401&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Depreciation and amortization&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;13,557,960&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;732,959&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;14,290,919&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Loss from &amp;#160;impairment and disposal of property, plant&#13;    and equipment&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,881&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,894,461&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,904,342&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest income&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,234&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;398&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;36,632&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Interest expense&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,318,252&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;173,867&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,492,119&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; text-indent: -9pt; padding-left: 9pt"&gt;Income tax expense(benefit)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,623,468&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(235,649&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,189&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;-&lt;/td&gt;&lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(1,850,928&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt"&gt;Net income (loss)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(5,029,497&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(4,612,001&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(904,186&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,545,684&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;&#13;    &lt;td style="text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"&gt;Total Assets&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;183,987,100&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;19,068,788&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;20,122&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;-&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt"&gt;&amp;#160;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;203,076,010&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Year&#13;    Ended&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="18" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Dongfang&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Baoding&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Not&amp;#160;Attributable&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Elimination&#13;    of&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Enterprise-wide,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Paper&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Shengde&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;to&amp;#160;Segments&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Inter-segment&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;consolidated&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 40%; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Revenues&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;117,023,578&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;117,023,578&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Gross&#13;    profit&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;19,955,951&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; 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text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    income (loss)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4,746,326&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(2,293,731&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(792,807&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,659,788&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;192,620,887&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;26,363,435&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,159&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;218,989,481&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfSegmentReportingInformationBySegmentTextBlock>
    <us-gaap:CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(24)&#13;Condensed Financial Information of the Parent Company&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;condensed financial statements of IT Tech Packaging Inc. (&amp;#8220;ITP&amp;#8221;, the &amp;#8220;parent company&amp;#8221;) have been prepared&#13;in accordance with accounting principles generally accepted in the United States of America. Under the PRC laws and regulations,&#13;the Company&amp;#8217;s PRC subsidiaries are restricted in their ability to transfer certain of their net assets to the parent company&#13;in the form of dividend payments, loans or advances. The amounts restricted include paid-in capital, capital surplus and statutory&#13;reserves, as determined pursuant to PRC generally accepted accounting principles, totaling $45,589,643 as of December 31, 2018&#13;and 2017, respectively.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;following represents condensed unconsolidated financial information of the parent company only:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;CONDENSED&#13;BALANCE SHEETS&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cash&#13;    and cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,723&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,158&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepayments&#13;    and other current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;17,400&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;20,123&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,158&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Investment&#13;    in subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;170,520,446&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;188,894,696&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;170,520,446&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;188,899,854&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;LIABILITIES&#13;    AND STOCKHOLDERS&amp;#8217; EQUITY&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; 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text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,567,962&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    payroll and employee benefit&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Income&#13;    tax payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,528&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,990,654&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,574,490&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,990,654&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,574,490&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    stockholders&amp;#8217; equity&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;166,529,792&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;185,325,364&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Liabilities and Stockholders&amp;#8217; Equity&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;170,520,446&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;188,899,854&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;CONDENSED&#13;STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Year&#13;    Ended&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Revenue&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Selling,&#13;    general and administrative expenses&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;895,995&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;402,579&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Loss&#13;    from Operations&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(895,995&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(402,579&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Equity&#13;    in (loss)/earnings of unconsolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(9,641,498&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,068,895&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Other&#13;    Income (Expense)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(Loss)/Income&#13;before Income Taxes&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(10,537,493&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,666,316&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Provision&#13;    for Income Taxes&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(8,189&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(6,528&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Income&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(10,545,682&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,659,788&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Other&#13;    comprehensive income /(loss)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(9,974,338&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;10,910,190&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Comprehensive Income (loss)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(19,298,598&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;12,569,978&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;CONDENSED&#13;STATEMENTS OF CASH FLOWS&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Year&#13;    Ended&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Cash (Used in) Provided by Operating Activities&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(425,127&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(402,579&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Cash Used in Investing Activities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Cash Provided by Financing Activities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;422,692&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;406,280&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Increase (Decrease) in Cash and Cash Equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(2,435&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,701&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cash&#13;    and Cash Equivalents - Beginning of Year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,158&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,457&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cash&#13;    and Cash Equivalents - End of Year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,723&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,158&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;BASIS&#13;OF PRESENTATION&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;condensed financial information has been prepared using the same accounting policies as set out in the Company&amp;#8217;s consolidated&#13;financial statements except that the parent company has used equity method to account for its investments in the subsidiaries.&lt;/font&gt;&lt;/p&gt;</us-gaap:CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock>
    <itp:ScheduleOfCondensedBalanceSheetOneTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&amp;#160;31,&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;ASSETS&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cash&#13;    and cash equivalents&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,723&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,158&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Prepayments&#13;    and other current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;17,400&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;20,123&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5,158&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Investment&#13;    in subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;170,520,446&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;188,894,696&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Assets&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;170,520,446&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;188,899,854&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;LIABILITIES&#13;    AND STOCKHOLDERS&amp;#8217; EQUITY&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Current&#13;    Liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; 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text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,567,962&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    payroll and employee benefit&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Accrued&#13;    liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Income&#13;    tax payable&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;6,528&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    current liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,990,654&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,574,490&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    liabilities&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,990,654&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;3,574,490&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    stockholders&amp;#8217; equity&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;166,529,792&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;185,325,364&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Liabilities and Stockholders&amp;#8217; Equity&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;170,520,446&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;188,899,854&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</itp:ScheduleOfCondensedBalanceSheetOneTableTextBlock>
    <srt:ScheduleOfCondensedIncomeStatementTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Year&#13;    Ended&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Revenue&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Selling,&#13;    general and administrative expenses&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;895,995&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;402,579&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Loss&#13;    from Operations&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(895,995&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(402,579&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Equity&#13;    in (loss)/earnings of unconsolidated subsidiaries&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(9,641,498&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;2,068,895&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Other&#13;    Income (Expense)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(Loss)/Income&#13;before Income Taxes&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(10,537,493&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,666,316&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Provision&#13;    for Income Taxes&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(8,189&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(6,528&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Net&#13;    Income&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(10,545,682&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1,659,788&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Other&#13;    comprehensive income /(loss)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(9,974,338&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;10,910,190&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Total&#13;    Comprehensive Income (loss)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;(19,298,598&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;12,569,978&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;</srt:ScheduleOfCondensedIncomeStatementTableTextBlock>
    <itp:StockWarrantsTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;(12)&#13;Stock warrants&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;On&#13;August 27, 2014, the Company issued 1,562,500 shares of our common stock and warrants to purchase up to 781,250 shares of our&#13;common stock. The warrants have an exercise price of $1.70 per share. These warrants are exercisable immediately upon issuance&#13;on September 3, 2014 and have a term of exercise equal to five years from the date of issuance till September 2, 2019. The fair&#13;value of these shares amounted to $780,000, is classified as equity at the date of issuance.&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;fair value of the warrants issued was estimated by using the Binominal pricing model with the following assumptions:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Terms&#13;    of warrants&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;5&#13;                                         years&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Expected&#13;    volatility&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;72.0&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Risk-free&#13;    interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.69&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Expected&#13;    dividend yield&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.81&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;In&#13;connection with the Offering, the Company issued warrants to its placement agent of this Offering, which can purchase an aggregate&#13;of up to 2.50% of the aggregate number of shares of common stock sold in the Offering, i.e. 39,062 shares. These warrants have&#13;substantially the same terms as the warrants issued to purchaser in the Offering, except that the exercise price is $2.00 per&#13;share and the expiration date is from September 3, 2014 to June 26, 2019. The fair value of these shares amounted to $35,191,&#13;is classified in the equity at the date of issuance to net off the proceeds from the issuance of the shares and warrants.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;fair value of the warrants issued was estimated by using the Binominal pricing model with the following assumptions:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Terms&#13;    of warrants&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;4.81&#13;                                         years&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Expected&#13;    volatility&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;69.8&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Risk-free&#13;    interest rate&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.62&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Expected&#13;    dividend yield&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;0.81&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;The&#13;Company applied judgment in estimating key assumptions in determining the fair value of the warrants on the date of issuance.&#13;The Company used historical data to estimate stock volatilities and expected dividend yield. The risk-free rates are consistent&#13;with the terms of the warrants and are based on the United States Treasury yield curve in effect at the time of issuance.&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;A&#13;summary of stock warrant activities is as below:&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Number&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Weight&#13;    average exercise&amp;#160;price&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Number&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Weight&#13;    average exercise&amp;#160;price&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 52%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Outstanding&#13;    and exercisable at beginning of the year&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;820,312&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.71&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;820,312&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.71&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Issued&#13;    during the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Exercised&#13;    during the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cancelled&#13;    or expired during the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Outstanding&#13;    and exercisable at end of the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;820,312&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.71&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;820,312&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.71&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Range&#13;    of exercise price&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="5" style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&#13;                                         1.70 to $2.00&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="5" style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&#13;                                         1.70 to $2.00&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;/table&gt;&#13;&#13;&#13;&lt;p style="margin: 0; font-family: Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&#13;&#13;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;No&#13;warrants were issued, exercised, cancelled or expired during the years ended December 31, 2018 and 2017. As of December 31, 2018&#13;and 2017, the aggregated intrinsic value of warrants outstanding and exercisable was $nil.&lt;/font&gt;&lt;/p&gt;</itp:StockWarrantsTextBlock>
    <us-gaap:ScheduleOfShareBasedCompensationActivityTableTextBlock contextRef="Context_9ME_01_Jan_2018T00_00_00_TO_30_Sep_2018T00_00_00">&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31, 2018&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;December&#13;    31, 2017&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: center"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Number&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Weight&#13;    average exercise&amp;#160;price&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Number&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Weight&#13;    average exercise&amp;#160;price&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="width: 52%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Outstanding&#13;    and exercisable at beginning of the year&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;820,312&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.71&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;820,312&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;1.71&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Issued&#13;    during the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Exercised&#13;    during the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&#13;&lt;tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif"&gt;&#13;    &lt;td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;Cancelled&#13;    or expired during the year&lt;/font&gt;&lt;/td&gt;&lt;td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&#13;    &lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"&gt;&lt;font style="font-family: Times New Roman, Times, Serif"&gt;-&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; 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      <link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:label="Footnote-01" xml:lang="en-US">Dongfang Paper is treated as a 100% controlled variable interest entity of the Company.</link:footnote>
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	  <link:usedOn>link:calculationLink</link:usedOn>
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	  <link:usedOn>link:calculationLink</link:usedOn>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>24
<FILENAME>itp-20181231_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember_lbl" xml:lang="en-US">Date Of Issuance Three September Two Thousand Fourteen To Twenty Six June Two Thousand Nineteen [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ShengdeHoldingMember" xlink:label="itp_ShengdeHoldingMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ShengdeHoldingMember" xlink:to="itp_ShengdeHoldingMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ShengdeHoldingMember_lbl" xml:lang="en-US">Shengde Holding [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_DongfangHoldingMember" xlink:label="itp_DongfangHoldingMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DongfangHoldingMember" xlink:to="itp_DongfangHoldingMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_DongfangHoldingMember_lbl" xml:lang="en-US">Dongfang Holding [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="us-gaap_BusinessAcquisitionAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BusinessAcquisitionAxis" xlink:to="us-gaap_BusinessAcquisitionAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BusinessAcquisitionAxis_lbl" xml:lang="en-US">Business Acquisition [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_TypeOfCurrencyAxis" xlink:label="itp_TypeOfCurrencyAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TypeOfCurrencyAxis" xlink:to="itp_TypeOfCurrencyAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_TypeOfCurrencyAxis_lbl" xml:lang="en-US">Type of Currency [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RMBMember" xlink:label="itp_RMBMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RMBMember" xlink:to="itp_RMBMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RMBMember_lbl" xml:lang="en-US">RMB [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConcentrationRiskByTypeAxis" xlink:label="us-gaap_ConcentrationRiskByTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByTypeAxis" xlink:to="us-gaap_ConcentrationRiskByTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByTypeAxis_lbl" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SupplierTwoMember" xlink:label="itp_SupplierTwoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SupplierTwoMember" xlink:to="itp_SupplierTwoMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SupplierTwoMember_lbl" xml:lang="en-US">Supplier Two [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SupplierOneMember" xlink:label="itp_SupplierOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SupplierOneMember" xlink:to="itp_SupplierOneMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SupplierOneMember_lbl" xml:lang="en-US">Supplier One [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SalesRevenueNetMember" xlink:label="us-gaap_SalesRevenueNetMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xml:lang="en-US">Sales Revenue, Net [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PublicUtilitiesInventoryAxis" xlink:label="us-gaap_PublicUtilitiesInventoryAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PublicUtilitiesInventoryAxis" xlink:to="us-gaap_PublicUtilitiesInventoryAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PublicUtilitiesInventoryAxis_lbl" xml:lang="en-US">Inventory [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RecycledPaperBoardMember" xlink:label="itp_RecycledPaperBoardMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RecycledPaperBoardMember" xlink:to="itp_RecycledPaperBoardMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RecycledPaperBoardMember_lbl" xml:lang="en-US">Recycled Paper Board [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_BasePaperAndOtherRawMaterialsMember" xlink:label="itp_BasePaperAndOtherRawMaterialsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_BasePaperAndOtherRawMaterialsMember" xlink:to="itp_BasePaperAndOtherRawMaterialsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_BasePaperAndOtherRawMaterialsMember_lbl" xml:lang="en-US">Base Paper and Other Raw Materials [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PublicUtilitiesInventoryCoalAndGasMember" xlink:label="itp_PublicUtilitiesInventoryCoalAndGasMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PublicUtilitiesInventoryCoalAndGasMember" xlink:to="itp_PublicUtilitiesInventoryCoalAndGasMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PublicUtilitiesInventoryCoalAndGasMember_lbl" xml:lang="en-US">Public Utilities Inventory Coal And Gas [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RecycledWhiteScrapPaperMember" xlink:label="itp_RecycledWhiteScrapPaperMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RecycledWhiteScrapPaperMember" xlink:to="itp_RecycledWhiteScrapPaperMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RecycledWhiteScrapPaperMember_lbl" xml:lang="en-US">Recycled White Scrap Paper [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US">Property, Plant and Equipment, Type [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_UseRightsMember" xlink:label="us-gaap_UseRightsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseRightsMember" xlink:to="us-gaap_UseRightsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseRightsMember_lbl" xml:lang="en-US">Land use rights [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingAndBuildingImprovementsMember" xlink:to="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_lbl" xml:lang="en-US">Building and Building Improvements [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_MachineryAndEquipmentMember" xlink:label="us-gaap_MachineryAndEquipmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MachineryAndEquipmentMember" xlink:to="us-gaap_MachineryAndEquipmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MachineryAndEquipmentMember_lbl" xml:lang="en-US">Machinery and Equipment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VehiclesMember" xlink:label="us-gaap_VehiclesMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VehiclesMember" xlink:to="us-gaap_VehiclesMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VehiclesMember_lbl" xml:lang="en-US">Vehicles [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:label="us-gaap_ConstructionInProgressMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionInProgressMember" xlink:to="us-gaap_ConstructionInProgressMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConstructionInProgressMember_lbl" xml:lang="en-US">Construction In Progress [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LandUseRightsMember" xlink:label="itp_LandUseRightsMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LandUseRightsMember" xlink:to="itp_LandUseRightsMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LandUseRightsMember_lbl" xml:lang="en-US">Land Use Rights [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="us-gaap_LongtermDebtTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongtermDebtTypeAxis" xlink:to="us-gaap_LongtermDebtTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongtermDebtTypeAxis_lbl" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RuralCreditUnionOfXushuiCountyLoanMember" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyLoanMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyLoanMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanMember_lbl" xml:lang="en-US">Rural Credit Union Of Xushui County Loan [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RuralCreditUnionOfXushuiCountyLoanOneMember" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanOneMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyLoanOneMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyLoanOneMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanOneMember_lbl" xml:lang="en-US">Rural Credit Union Of Xushui County Loan One [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RuralCreditUnionOfXushuiCountyLoanTwoMember" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanTwoMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyLoanTwoMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyLoanTwoMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanTwoMember_lbl" xml:lang="en-US">Rural Credit Union Of Xushui County Loan Two [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NewTermLoansMember" xlink:label="itp_NewTermLoansMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NewTermLoansMember" xlink:to="itp_NewTermLoansMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NewTermLoansMember_lbl" xml:lang="en-US">New Term Loans [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_TermLoansMember" xlink:label="itp_TermLoansMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TermLoansMember" xlink:to="itp_TermLoansMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_TermLoansMember_lbl" xml:lang="en-US">Term Loans [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TitleOfIndividualAxis" xlink:label="us-gaap_TitleOfIndividualAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TitleOfIndividualAxis" xlink:to="us-gaap_TitleOfIndividualAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TitleOfIndividualAxis_lbl" xml:lang="en-US">Title of Individual [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ChiefExecutiveOfficerMember" xlink:label="us-gaap_ChiefExecutiveOfficerMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChiefExecutiveOfficerMember" xlink:to="us-gaap_ChiefExecutiveOfficerMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ChiefExecutiveOfficerMember_lbl" xml:lang="en-US">Chief Executive Officer [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" xlink:label="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" xlink:to="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember_lbl" xml:lang="en-US">Hebei Fangsheng Real Estate Development Company Limited [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LocalGovernmentMember" xlink:label="itp_LocalGovernmentMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LocalGovernmentMember" xlink:to="itp_LocalGovernmentMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LocalGovernmentMember_lbl" xml:lang="en-US">Local Government [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InvestorMember" xlink:label="us-gaap_InvestorMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestorMember" xlink:to="us-gaap_InvestorMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestorMember_lbl" xml:lang="en-US">Investor [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DerivativeInstrumentRiskAxis" xlink:label="us-gaap_DerivativeInstrumentRiskAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeInstrumentRiskAxis" xlink:to="us-gaap_DerivativeInstrumentRiskAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeInstrumentRiskAxis_lbl" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="us-gaap_WarrantMember_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WarrantMember_lbl" xml:lang="en-US">Warrant [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PlanNameAxis" xlink:label="us-gaap_PlanNameAxis" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_CN_lbl" xml:lang="en-US">China</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Common Stock</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US">Retained Earnings / Accumulated Deficit</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_IndustrialAndCommercialBankOfChinaLoanFourMember" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanFourMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanFourMember_lbl" xml:lang="en-US">ICBC Loan 4 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_WeitianGroupLccMember" xlink:label="itp_WeitianGroupLccMember" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_WeitianGroupLccMember_lbl" xml:lang="en-US">Weitian Group LCC [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ConsolidatedEntitiesAxis_lbl" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyMember_2_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DocumentAndEntityInformationAbstract" xlink:to="itp_DocumentAndEntityInformationAbstract_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
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      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" xlink:type="arc" />
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Cash_lbl" xml:lang="en-US">Cash and bank balances</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Restricted cash</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsReceivableNet" xlink:label="us-gaap_AccountsReceivableNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNet" xlink:to="us-gaap_AccountsReceivableNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNet_lbl" xml:lang="en-US">Accounts receivable (net of allowance for doubtful accounts of $58,707 and $37,626 as of December 31, 2018 and December 2017, respectively)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InventoryNet" xlink:label="us-gaap_InventoryNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US">Inventories</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US">Prepayments and other current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property, plant, and equipment, net</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ValueAddedTaxReceivableNoncurrent" xlink:label="us-gaap_ValueAddedTaxReceivableNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValueAddedTaxReceivableNoncurrent" xlink:to="us-gaap_ValueAddedTaxReceivableNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValueAddedTaxReceivableNoncurrent_lbl" xml:lang="en-US">Value-added tax recoverable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent" xlink:to="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent_lbl" xml:lang="en-US">Deferred tax asset non-current</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">LIABILITIES AND STOCKHOLDERS' EQUITY</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current Liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShortTermBankLoansAndNotesPayable" xlink:label="us-gaap_ShortTermBankLoansAndNotesPayable" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermBankLoansAndNotesPayable_lbl" xml:lang="en-US">Short-term bank loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansPayableToBankCurrent" xlink:label="us-gaap_LoansPayableToBankCurrent" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansPayableToBankCurrent_lbl" xml:lang="en-US">Current portion of long-term loans from credit union</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="us-gaap_AccountsPayableCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US">Accounts payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:label="us-gaap_NotesPayableCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NotesPayableCurrent" xlink:to="us-gaap_NotesPayableCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NotesPayableCurrent_lbl" xml:lang="en-US">Notes payable</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl" xml:lang="en-US">Due to related parties</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_OtherAccountsPayableAndAccruedLiabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_OtherAccountsPayableAndAccruedLiabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Other payables and accrued liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccruedIncomeTaxesCurrent" xlink:label="us-gaap_AccruedIncomeTaxesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxesCurrent" xlink:to="us-gaap_AccruedIncomeTaxesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedIncomeTaxesCurrent_lbl" xml:lang="en-US">Income taxes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Total current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherLoansPayableLongTerm" xlink:label="us-gaap_OtherLoansPayableLongTerm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLoansPayableLongTerm" xlink:to="us-gaap_OtherLoansPayableLongTerm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLoansPayableLongTerm_lbl" xml:lang="en-US">Loans from credit union</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DueToRelatedPartiesNoncurrent" xlink:label="us-gaap_DueToRelatedPartiesNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesNoncurrent" xlink:to="us-gaap_DueToRelatedPartiesNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueToRelatedPartiesNoncurrent_lbl" xml:lang="en-US">Loans from a related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $34,008,908 and $31,235,520 as of December 31, 2018 and 2017, respectively)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="us-gaap_CommitmentsAndContingencies" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">Commitments and Contingencies</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders' Equity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_lbl" xml:lang="en-US">Consolidated VIE, liabilities</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value</link:label>
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative expenses</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted" xlink:to="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted_lbl" xml:lang="en-US">Outstanding - Basic and Diluted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_2_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RetainedEarningsMember_2_lbl" xml:lang="en-US">Retained Earnings</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_2_lbl" xml:lang="en-US">Balance</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="us-gaap_SharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US">Balance, Shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueOther" xlink:label="us-gaap_StockIssuedDuringPeriodValueOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueOther" xlink:to="us-gaap_StockIssuedDuringPeriodValueOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueOther_lbl" xml:lang="en-US">Issuance of shares to officer and directors</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesOther" xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesOther" xlink:to="us-gaap_StockIssuedDuringPeriodSharesOther_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesOther_lbl" xml:lang="en-US">Issuance of shares to officer and directors, shares</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian" xlink:label="itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian" xlink:to="itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian_lbl" xml:lang="en-US">Issuance of shares to Weitian</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian" xlink:label="itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian" xlink:to="itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian_lbl" xml:lang="en-US">Issuance of shares to Weitian, shares</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_2_lbl" xml:lang="en-US">Net income loss for the year</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_3_lbl" xml:lang="en-US">Balance</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesOutstanding_2_lbl" xml:lang="en-US">Balance, Shares</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flows from Operating Activities:</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:label="us-gaap_NetIncomeLoss_3_lbl" xml:lang="en-US">Net income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation and amortization</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_GainLossOnDispositionOfAssets1" xlink:label="us-gaap_GainLossOnDispositionOfAssets1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDispositionOfAssets1" xlink:to="us-gaap_GainLossOnDispositionOfAssets1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_GainLossOnDispositionOfAssets1_lbl" xml:lang="en-US">Loss from disposal and impairment of property, plant and equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US">(Recovery from) Allowance for bad debts</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based compensation expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred tax</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Changes in operating assets and liabilities:</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncreaseDecreaseInInventories" xlink:label="us-gaap_IncreaseDecreaseInInventories" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable_lbl" xml:lang="en-US">Accounts payable</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_IncreaseDecreaseInAdvanceFromCustomers" xlink:label="itp_IncreaseDecreaseInAdvanceFromCustomers" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_IncreaseDecreaseInAdvanceFromCustomers_lbl" xml:lang="en-US">Advance from customers</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInNotesPayableCurrent_lbl" xml:lang="en-US">Notes payable</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net Cash Provided by Operating Activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flows from Investing Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchases of property, plant and equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:to="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl" xml:lang="en-US">Proceeds from sale of property, plant and equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net Cash Used in Investing Activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash Flows from Financing Activities:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromRelatedPartyDebt" xlink:label="us-gaap_ProceedsFromRelatedPartyDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRelatedPartyDebt" xlink:to="us-gaap_ProceedsFromRelatedPartyDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromRelatedPartyDebt_lbl" xml:lang="en-US">Proceeds from related party loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RepaymentsOfRelatedPartyDebt" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfRelatedPartyDebt" xlink:to="us-gaap_RepaymentsOfRelatedPartyDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt_lbl" xml:lang="en-US">Repayments of related party loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ProceedsFromBankDebt" xlink:label="us-gaap_ProceedsFromBankDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromBankDebt" xlink:to="us-gaap_ProceedsFromBankDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromBankDebt_lbl" xml:lang="en-US">Proceeds from short term bank loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RepaymentsOfBankDebt" xlink:label="us-gaap_RepaymentsOfBankDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfBankDebt" xlink:to="us-gaap_RepaymentsOfBankDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfBankDebt_lbl" xml:lang="en-US">Repayment of bank loans</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ProceedsFromRuralCreditUnionLoans" xlink:label="itp_ProceedsFromRuralCreditUnionLoans" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ProceedsFromRuralCreditUnionLoans" xlink:to="itp_ProceedsFromRuralCreditUnionLoans_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ProceedsFromRuralCreditUnionLoans_lbl" xml:lang="en-US">Proceeds from credit union loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations" xlink:label="us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations" xlink:to="us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations_lbl" xml:lang="en-US">Payment of capital lease obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net Cash Used in Financing Activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of Exchange Rate Changes on Cash and Cash Equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net Increase (Decrease) in Cash and Cash Equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash, Cash Equivalents and Restricted Cash - Beginning of Year</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_2_lbl" xml:lang="en-US">Cash, Cash Equivalents and Restricted Cash - End of Year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental Disclosure of Cash Flow Information:</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="us-gaap_InterestPaidNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="us-gaap_InterestPaidNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaidNet_lbl" xml:lang="en-US">Cash paid for interest, net of capitalized interest cost</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="us-gaap_IncomeTaxesPaidNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxesPaidNet" xlink:to="us-gaap_IncomeTaxesPaidNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US">Cash paid for income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_CashBankBalances" xlink:label="itp_CashBankBalances" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CashBankBalances" xlink:to="itp_CashBankBalances_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_CashBankBalances_lbl" xml:lang="en-US">Cash and bank balances</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NonCashRestrictedCash" xlink:label="itp_NonCashRestrictedCash" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NonCashRestrictedCash" xlink:to="itp_NonCashRestrictedCash_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_NonCashRestrictedCash_lbl" xml:lang="en-US">Restricted cash</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_TotalCashEquivalentsAndRestrictedCash" xlink:label="itp_TotalCashEquivalentsAndRestrictedCash" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TotalCashEquivalentsAndRestrictedCash" xlink:to="itp_TotalCashEquivalentsAndRestrictedCash_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_TotalCashEquivalentsAndRestrictedCash_lbl" xml:lang="en-US">Total cash, cash equivalents and restricted cash shown in the statement of cash flows</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US">Organization and Business Background</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="us-gaap_AccountingPoliciesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:to="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Basis of Presentation and Significant Accounting Policies</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsAbstract" xlink:label="us-gaap_CashAndCashEquivalentsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAbstract" xlink:to="us-gaap_CashAndCashEquivalentsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAbstract_lbl" xml:lang="en-US">Cash and Cash Equivalents [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsDisclosureTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsDisclosureTextBlock_lbl" xml:lang="en-US">Restricted Cash</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InventoryDisclosureAbstract" xlink:label="us-gaap_InventoryDisclosureAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureAbstract" xlink:to="us-gaap_InventoryDisclosureAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryDisclosureAbstract_lbl" xml:lang="en-US">Inventory Disclosure [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InventoryDisclosureTextBlock" xlink:label="us-gaap_InventoryDisclosureTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ScheudleOfPropertyPlantAndEquipmentEstimatedUsefulLiveTableTextBlock_lbl" xml:lang="en-US">Schedule of depreciates property, plant, and equipment estimated useful lives</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:to="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xml:lang="en-US">Schedule of inventories</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock" xlink:label="itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock" xlink:to="itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock_lbl" xml:lang="en-US">Schedule of prepayments and other current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US">Schedule of property, plant and equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:label="us-gaap_ScheduleOfShortTermDebtTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:to="us-gaap_ScheduleOfShortTermDebtTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShortTermDebtTextBlock_lbl" xml:lang="en-US">Schedule of short-term bank loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:to="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDebtInstrumentsTextBlock_lbl" xml:lang="en-US">Schedule of loans payable</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock" xlink:label="itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock" xlink:to="itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock_lbl" xml:lang="en-US">Schedule of long-term debt repayments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of other payables and accrued liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_StockWarrantsTable" xlink:label="itp_StockWarrantsTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockWarrantsTable" xlink:to="itp_StockWarrantsTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_StockWarrantsTable_lbl" xml:lang="en-US">Stock Warrants [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_StockWarrantsLineItems" xlink:label="itp_StockWarrantsLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockWarrantsLineItems" xlink:to="itp_StockWarrantsLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_StockWarrantsLineItems_lbl" xml:lang="en-US">Stock Warrants [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember" xlink:to="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember_2_lbl" xml:lang="en-US">Date of issuance August 27, 2014 [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember" xlink:to="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember_2_lbl" xml:lang="en-US">Date of issuance from September 3, 2014 to June 26, 2019 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:label="us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:to="us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock_lbl" xml:lang="en-US">Schedule fair value of warrants issued was estimated by using Binominal pricing model</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock_lbl" xml:lang="en-US">Summary of stock warrant activities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_lbl" xml:lang="en-US">Schedule of basic and diluted net income per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:to="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl" xml:lang="en-US">Schedule of provisions for income taxes</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of deferred tax</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:to="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl" xml:lang="en-US">Schedule of reconciles the statutory rates effective tax rates</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock" xlink:to="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock_lbl" xml:lang="en-US">Schedule of future minimum lease payments of all operating leases</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_lbl" xml:lang="en-US">Schedule of financial information for the two reportable segments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock" xlink:to="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock_lbl" xml:lang="en-US">Schedule of quarterly financial information</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ScheduleOfCondensedBalanceSheetOneTableTextBlock" xlink:label="itp_ScheduleOfCondensedBalanceSheetOneTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheduleOfCondensedBalanceSheetOneTableTextBlock" xlink:to="itp_ScheduleOfCondensedBalanceSheetOneTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ScheduleOfCondensedBalanceSheetOneTableTextBlock_lbl" xml:lang="en-US">Schedule of condensed balance sheets</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ScheduleOfCondensedIncomeStatementTableTextBlock" xlink:label="srt_ScheduleOfCondensedIncomeStatementTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedIncomeStatementTableTextBlock" xlink:to="srt_ScheduleOfCondensedIncomeStatementTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfCondensedIncomeStatementTableTextBlock_lbl" xml:lang="en-US">Schedule of condensed statements of income and comprehensive income (loss)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:label="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock" xlink:to="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfCondensedCashFlowStatementTableTextBlock_lbl" xml:lang="en-US">Schedule of condensed statements of cash flows</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="us-gaap_ScheduleOfVariableInterestEntitiesTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfVariableInterestEntitiesTable_lbl" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="us-gaap_VariableInterestEntityLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityLineItems" xlink:to="us-gaap_VariableInterestEntityLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityLineItems_lbl" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementBusinessSegmentsAxis" xlink:to="us-gaap_StatementBusinessSegmentsAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StatementBusinessSegmentsAxis_2_lbl" xml:lang="en-US">Segments [Axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ShengdeHoldingMember" xlink:to="itp_ShengdeHoldingMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_ShengdeHoldingMember_2_lbl" xml:lang="en-US">Shengde Holdings [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract" xlink:label="itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract" xlink:to="itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract_lbl" xml:lang="en-US">Schedule of company's subsidiaries and variable interest entities</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityIncorporationDateOfIncorporation" xlink:label="dei_EntityIncorporationDateOfIncorporation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationDateOfIncorporation" xlink:to="dei_EntityIncorporationDateOfIncorporation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationDateOfIncorporation_lbl" xml:lang="en-US">Entity Incorporation, Date of Incorporation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityIncorporationStateCountryName" xlink:label="dei_EntityIncorporationStateCountryName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryName" xlink:to="dei_EntityIncorporationStateCountryName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryName_lbl" xml:lang="en-US">Entity Incorporation State Country Name</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_lbl" xml:lang="en-US">Percentage of Ownership</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_EquityMethodInvestmentOwnershipPercentageDescription" xlink:label="itp_EquityMethodInvestmentOwnershipPercentageDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_EquityMethodInvestmentOwnershipPercentageDescription" xlink:to="itp_EquityMethodInvestmentOwnershipPercentageDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_EquityMethodInvestmentOwnershipPercentageDescription_lbl" xml:lang="en-US">Percentage of Ownership</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose" xlink:to="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_lbl" xml:lang="en-US">Principal Activity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedBalanceSheetStatementTable" xlink:label="srt_CondensedBalanceSheetStatementTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedBalanceSheetStatementTable" xlink:to="srt_CondensedBalanceSheetStatementTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedBalanceSheetStatementTable_lbl" xml:lang="en-US">Condensed Balance Sheet Statement [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CondensedBalanceSheetStatementsCaptionsLineItems" xlink:label="srt_CondensedBalanceSheetStatementsCaptionsLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_CondensedBalanceSheetStatementsCaptionsLineItems" xlink:to="srt_CondensedBalanceSheetStatementsCaptionsLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_CondensedBalanceSheetStatementsCaptionsLineItems_lbl" xml:lang="en-US">Condensed Balance Sheet Statements, Captions [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:to="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_2_lbl" xml:lang="en-US">Dongfang Paper [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_3_lbl" xml:lang="en-US">Cash and bank balances</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNet" xlink:to="us-gaap_AccountsReceivableNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsReceivableNet_2_lbl" xml:lang="en-US">Accounts receivable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_2_lbl" xml:lang="en-US">Total current assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_2_lbl" xml:lang="en-US">Total Assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_2_lbl" xml:lang="en-US">LIABILITIES</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_CurrentPortionOfLongTermLoansFromCreditUnion" xlink:label="itp_CurrentPortionOfLongTermLoansFromCreditUnion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CurrentPortionOfLongTermLoansFromCreditUnion" xlink:to="itp_CurrentPortionOfLongTermLoansFromCreditUnion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_CurrentPortionOfLongTermLoansFromCreditUnion_lbl" xml:lang="en-US">Current portion of long-term loans from credit union</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_2_lbl" xml:lang="en-US">Total current liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_2_lbl" xml:lang="en-US">Total liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTable" xlink:label="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTable" xlink:to="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTable_lbl" xml:lang="en-US">Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetLineItems" xlink:label="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetLineItems" xlink:to="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetLineItems_lbl" xml:lang="en-US">Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TypeOfCurrencyAxis" xlink:to="itp_TypeOfCurrencyAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_TypeOfCurrencyAxis_2_lbl" xml:lang="en-US">TypeOfCurrencyAxis [Axis]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_OrganizationAndBusinessBackgroundTextualAbstract" xlink:label="itp_OrganizationAndBusinessBackgroundTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_OrganizationAndBusinessBackgroundTextualAbstract" xlink:to="itp_OrganizationAndBusinessBackgroundTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_OrganizationAndBusinessBackgroundTextualAbstract_lbl" xml:lang="en-US">Organization and Business Background (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_VariableInterestEntityOwnershipPercentage" xlink:label="us-gaap_VariableInterestEntityOwnershipPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestEntityOwnershipPercentage" xlink:to="us-gaap_VariableInterestEntityOwnershipPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_VariableInterestEntityOwnershipPercentage_lbl" xml:lang="en-US">Percentage of ownership</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesAcquisitions_lbl" xml:lang="en-US">Shares of common stock issued to shareholders under merger agreement</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_Capital" xlink:label="us-gaap_Capital" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Capital" xlink:to="us-gaap_Capital_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Capital_lbl" xml:lang="en-US">Registered capital</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ServiceFeePercentageOfNetProfit" xlink:label="itp_ServiceFeePercentageOfNetProfit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ServiceFeePercentageOfNetProfit" xlink:to="itp_ServiceFeePercentageOfNetProfit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ServiceFeePercentageOfNetProfit_lbl" xml:lang="en-US">Service fees percentage of annual net profits</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PercentageShareOfDistributableProfit" xlink:label="itp_PercentageShareOfDistributableProfit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PercentageShareOfDistributableProfit" xlink:to="itp_PercentageShareOfDistributableProfit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PercentageShareOfDistributableProfit_lbl" xml:lang="en-US">Percentage of distributable profit of Dongfang Paper</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentOptionsExercisePrice" xlink:label="invest_InvestmentOptionsExercisePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentOptionsExercisePrice" xlink:to="invest_InvestmentOptionsExercisePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentOptionsExercisePrice_lbl" xml:lang="en-US">Exercise price for options</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="us-gaap_DebtInstrumentFaceAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentFaceAmount" xlink:to="us-gaap_DebtInstrumentFaceAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentFaceAmount_lbl" xml:lang="en-US">Aggregate principal amount</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_TerminationLoans" xlink:label="us-gaap_TerminationLoans" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TerminationLoans" xlink:to="us-gaap_TerminationLoans_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TerminationLoans_lbl" xml:lang="en-US">Loan agreement to terminate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConcentrationRiskPercentage1" xlink:label="us-gaap_ConcentrationRiskPercentage1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage1" xlink:to="us-gaap_ConcentrationRiskPercentage1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl" xml:lang="en-US">Percentage of revenue</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_EntityWideAssetsMajorCustomerPercentage" xlink:label="itp_EntityWideAssetsMajorCustomerPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_EntityWideAssetsMajorCustomerPercentage" xlink:to="itp_EntityWideAssetsMajorCustomerPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_EntityWideAssetsMajorCustomerPercentage_lbl" xml:lang="en-US">Percentage of assets accounted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockholdersEquityReverseStockSplit" xlink:label="us-gaap_StockholdersEquityReverseStockSplit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityReverseStockSplit" xlink:to="us-gaap_StockholdersEquityReverseStockSplit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityReverseStockSplit_lbl" xml:lang="en-US">Reverse stock split</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward_lbl" xml:lang="en-US">Allowance for Doubtful Accounts Receivable [Roll Forward]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_2_lbl" xml:lang="en-US">Opening balance</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_2_lbl" xml:lang="en-US">Provision (Reversal) for the year</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_AllowanceForDoubtfulAccountsExchangeDifference" xlink:label="itp_AllowanceForDoubtfulAccountsExchangeDifference" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AllowanceForDoubtfulAccountsExchangeDifference" xlink:to="itp_AllowanceForDoubtfulAccountsExchangeDifference_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_AllowanceForDoubtfulAccountsExchangeDifference_lbl" xml:lang="en-US">Exchange difference</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_3_lbl" xml:lang="en-US">Closing balance</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseRightsMember" xlink:to="us-gaap_UseRightsMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_UseRightsMember_2_lbl" xml:lang="en-US">Land use right [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingAndBuildingImprovementsMember" xlink:to="us-gaap_BuildingAndBuildingImprovementsMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_BuildingAndBuildingImprovementsMember_2_lbl" xml:lang="en-US">Building and improvements [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MachineryAndEquipmentMember" xlink:to="us-gaap_MachineryAndEquipmentMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MachineryAndEquipmentMember_2_lbl" xml:lang="en-US">Machinery and equipment [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US">Property, plant, and equipment, Useful life</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:to="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xml:lang="en-US">Property, plant, and equipment, Useful life</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract" xlink:label="itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract" xlink:to="itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract_lbl" xml:lang="en-US">Basis of Presentation and Significant Accounting Policies (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_WorkingCapitalDeficit" xlink:label="itp_WorkingCapitalDeficit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WorkingCapitalDeficit" xlink:to="itp_WorkingCapitalDeficit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_WorkingCapitalDeficit_lbl" xml:lang="en-US">Working capital deficit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestPayableCurrent" xlink:label="us-gaap_InterestPayableCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrent" xlink:to="us-gaap_InterestPayableCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPayableCurrent_lbl" xml:lang="en-US">Interest payable for related party loans</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NetCashGeneratedFromOperations" xlink:label="itp_NetCashGeneratedFromOperations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NetCashGeneratedFromOperations" xlink:to="itp_NetCashGeneratedFromOperations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NetCashGeneratedFromOperations_lbl" xml:lang="en-US">Net cash generated from operations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/positiveVerboseLabel" xlink:label="us-gaap_NetIncomeLoss_4_lbl" xml:lang="en-US">Net income (loss)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NetCashIn" xlink:label="itp_NetCashIn" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NetCashIn" xlink:to="itp_NetCashIn_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NetCashIn_lbl" xml:lang="en-US">Net cash in</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NetCashOut" xlink:label="itp_NetCashOut" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NetCashOut" xlink:to="itp_NetCashOut_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NetCashOut_lbl" xml:lang="en-US">Net cash out</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount" xlink:label="us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount" xlink:to="us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount_lbl" xml:lang="en-US">Current exchange rates, description</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NetProfitTransferredToStatutoryReserveFund" xlink:label="itp_NetProfitTransferredToStatutoryReserveFund" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NetProfitTransferredToStatutoryReserveFund" xlink:to="itp_NetProfitTransferredToStatutoryReserveFund_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NetProfitTransferredToStatutoryReserveFund_lbl" xml:lang="en-US">Registered capital, amount</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpense" xlink:to="us-gaap_ResearchAndDevelopmentExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research and development expenses</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LeaseObligationsDescription" xlink:label="itp_LeaseObligationsDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseObligationsDescription" xlink:to="itp_LeaseObligationsDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LeaseObligationsDescription_lbl" xml:lang="en-US">Lease obligations, description</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ValueAddedTaxRate" xlink:label="itp_ValueAddedTaxRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueAddedTaxRate" xlink:to="itp_ValueAddedTaxRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ValueAddedTaxRate_lbl" xml:lang="en-US">VAT rate</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_AdvertisingAndPromotionCosts" xlink:label="itp_AdvertisingAndPromotionCosts" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AdvertisingAndPromotionCosts" xlink:to="itp_AdvertisingAndPromotionCosts_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_AdvertisingAndPromotionCosts_lbl" xml:lang="en-US">Advertising and promotion costs</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_TransfersOfReserveFund" xlink:label="itp_TransfersOfReserveFund" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TransfersOfReserveFund" xlink:to="itp_TransfersOfReserveFund_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_TransfersOfReserveFund_lbl" xml:lang="en-US">Transfers of reserve fund</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccruedEmployeeBenefitsCurrent" xlink:label="us-gaap_AccruedEmployeeBenefitsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedEmployeeBenefitsCurrent" xlink:to="us-gaap_AccruedEmployeeBenefitsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedEmployeeBenefitsCurrent_lbl" xml:lang="en-US">Provision for employee benefits</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RestrictedCashTextualAbstract" xlink:label="itp_RestrictedCashTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RestrictedCashTextualAbstract" xlink:to="itp_RestrictedCashTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RestrictedCashTextualAbstract_lbl" xml:lang="en-US">Restricted Cash (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RestrictedCashDescription" xlink:label="itp_RestrictedCashDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RestrictedCashDescription" xlink:to="itp_RestrictedCashDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RestrictedCashDescription_lbl" xml:lang="en-US">Description of restricted cash notes payable maturity</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PublicUtilitiesInventoryTable" xlink:label="us-gaap_PublicUtilitiesInventoryTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PublicUtilitiesInventoryTable" xlink:to="us-gaap_PublicUtilitiesInventoryTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PublicUtilitiesInventoryTable_lbl" xml:lang="en-US">Public Utilities, Inventory [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PublicUtilitiesInventoryLineItems" xlink:label="us-gaap_PublicUtilitiesInventoryLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PublicUtilitiesInventoryLineItems" xlink:to="us-gaap_PublicUtilitiesInventoryLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PublicUtilitiesInventoryLineItems_lbl" xml:lang="en-US">Public Utilities, Inventory [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RecycledPaperBoardMember" xlink:to="itp_RecycledPaperBoardMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_RecycledPaperBoardMember_2_lbl" xml:lang="en-US">Recycled paper board [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RecycledWhiteScrapPaperMember" xlink:to="itp_RecycledWhiteScrapPaperMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_RecycledWhiteScrapPaperMember_2_lbl" xml:lang="en-US">Recycled white scrap paper [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PublicUtilitiesInventoryCoalAndGasMember" xlink:to="itp_PublicUtilitiesInventoryCoalAndGasMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_PublicUtilitiesInventoryCoalAndGasMember_2_lbl" xml:lang="en-US">Coal &amp; gas [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_BasePaperAndOtherRawMaterialsMember" xlink:to="itp_BasePaperAndOtherRawMaterialsMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_BasePaperAndOtherRawMaterialsMember_2_lbl" xml:lang="en-US">Base paper and other raw materials [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InventoryNetAbstract" xlink:label="us-gaap_InventoryNetAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNetAbstract" xlink:to="us-gaap_InventoryNetAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InventoryNetAbstract_lbl" xml:lang="en-US">Schedule of inventories</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InventoryRawMaterials" xlink:label="us-gaap_InventoryRawMaterials" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryRawMaterials" xlink:to="us-gaap_InventoryRawMaterials_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryRawMaterials_lbl" xml:lang="en-US">Raw materials</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InventoryFinishedGoods" xlink:label="us-gaap_InventoryFinishedGoods" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryFinishedGoods" xlink:to="us-gaap_InventoryFinishedGoods_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryFinishedGoods_lbl" xml:lang="en-US">Finished Goods</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InventoryNet_2_lbl" xml:lang="en-US">Totals</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract_lbl" xml:lang="en-US">Summary of prepayments and other current assets</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PrepaidLandLease" xlink:label="itp_PrepaidLandLease" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PrepaidLandLease" xlink:to="itp_PrepaidLandLease_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PrepaidLandLease_lbl" xml:lang="en-US">Prepaid land lease</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ValueAddedTaxReceivable" xlink:label="us-gaap_ValueAddedTaxReceivable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValueAddedTaxReceivable" xlink:to="us-gaap_ValueAddedTaxReceivable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ValueAddedTaxReceivable_lbl" xml:lang="en-US">Value-added tax recoverable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherPrepaidExpenseCurrent" xlink:label="us-gaap_OtherPrepaidExpenseCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherPrepaidExpenseCurrent" xlink:to="us-gaap_OtherPrepaidExpenseCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherPrepaidExpenseCurrent_lbl" xml:lang="en-US">Prepayment for purchase of materials</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="us-gaap_OtherAssetsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsCurrent" xlink:to="us-gaap_OtherAssetsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xml:lang="en-US">Others</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_2_lbl" xml:lang="en-US">Total prepayments and other current assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionInProgressMember" xlink:to="us-gaap_ConstructionInProgressMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ConstructionInProgressMember_2_lbl" xml:lang="en-US">Construction in progress [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract_lbl" xml:lang="en-US">Schedule of property, plant and equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Totals</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Less: accumulated depreciation and amortization</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_2_lbl" xml:lang="en-US">Property, Plant and Equipment, net</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LandUseRightsMember" xlink:to="itp_LandUseRightsMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_LandUseRightsMember_2_lbl" xml:lang="en-US">Land use rights [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PropertyPlantAndEquipmentTextualAbstract" xlink:label="itp_PropertyPlantAndEquipmentTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PropertyPlantAndEquipmentTextualAbstract" xlink:to="itp_PropertyPlantAndEquipmentTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PropertyPlantAndEquipmentTextualAbstract_lbl" xml:lang="en-US">Property, plant and equipment (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ProductionCapacityOfManufacturingEquipment" xlink:label="itp_ProductionCapacityOfManufacturingEquipment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ProductionCapacityOfManufacturingEquipment" xlink:to="itp_ProductionCapacityOfManufacturingEquipment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ProductionCapacityOfManufacturingEquipment_lbl" xml:lang="en-US">Production capacity of manufacturing equipment PM8 (per year)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SaleLeasebackTransactionLeasePeriod" xlink:label="itp_SaleLeasebackTransactionLeasePeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SaleLeasebackTransactionLeasePeriod" xlink:to="itp_SaleLeasebackTransactionLeasePeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SaleLeasebackTransactionLeasePeriod_lbl" xml:lang="en-US">Term of lease</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LeaseExpiration" xlink:label="itp_LeaseExpiration" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseExpiration" xlink:to="itp_LeaseExpiration_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LeaseExpiration_lbl" xml:lang="en-US">Lease expiration year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments" xlink:label="us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments" xlink:to="us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments_lbl" xml:lang="en-US">Assets pledged for guarantee of Dongfang Paper capital lease</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility" xlink:label="itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility" xlink:to="itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility_lbl" xml:lang="en-US">Land use right net values pledged for sale-leaseback financing</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing" xlink:label="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing" xlink:to="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing_lbl" xml:lang="en-US">Value of land use right pledged for bank loan</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetImpairmentCharges" xlink:to="us-gaap_AssetImpairmentCharges_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetImpairmentCharges_2_lbl" xml:lang="en-US">Impairment loss</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTable" xlink:label="us-gaap_ScheduleOfShortTermDebtTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShortTermDebtTable" xlink:to="us-gaap_ScheduleOfShortTermDebtTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShortTermDebtTable_lbl" xml:lang="en-US">Schedule of Short-term Debt [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShortTermDebtLineItems" xlink:label="us-gaap_ShortTermDebtLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtLineItems" xlink:to="us-gaap_ShortTermDebtLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermDebtLineItems_lbl" xml:lang="en-US">Short-term Debt [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtTypeAxis" xlink:to="us-gaap_ShortTermDebtTypeAxis_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShortTermDebtTypeAxis_2_lbl" xml:lang="en-US">Short-term Debt, Type [Axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IndustrialAndCommercialBankOfChinaLoanOneMember" xlink:to="itp_IndustrialAndCommercialBankOfChinaLoanOneMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanOneMember_2_lbl" xml:lang="en-US">Industrial and Commercial Bank of China ("ICBC") Loan 1 [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IndustrialAndCommercialBankOfChinaLoanTwoMember" xlink:to="itp_IndustrialAndCommercialBankOfChinaLoanTwoMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanTwoMember_2_lbl" xml:lang="en-US">ICBC Loan 2 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShortTermBorrowingsAbstract" xlink:label="us-gaap_ShortTermBorrowingsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBorrowingsAbstract" xlink:to="us-gaap_ShortTermBorrowingsAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShortTermBorrowingsAbstract_lbl" xml:lang="en-US">Schedule of short-term bank loans</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:to="us-gaap_ShortTermBankLoansAndNotesPayable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShortTermBankLoansAndNotesPayable_2_lbl" xml:lang="en-US">Total short-term bank loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="us-gaap_DebtInstrumentTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentTable_lbl" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="us-gaap_DebtInstrumentLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentLineItems_lbl" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyLoanMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyLoanMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanMember_2_lbl" xml:lang="en-US">Rural Credit Union of Xushui District Loan 1 [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyLoanOneMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyLoanOneMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanOneMember_2_lbl" xml:lang="en-US">Rural Credit Union of Xushui District Loan 2 [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyLoanTwoMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyLoanTwoMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanTwoMember_2_lbl" xml:lang="en-US">Rural Credit Union of Xushui District Loan 3 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermLoansPayable" xlink:label="us-gaap_LongTermLoansPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermLoansPayable" xlink:to="us-gaap_LongTermLoansPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermLoansPayable_lbl" xml:lang="en-US">Total</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansPayableToBankCurrent" xlink:to="us-gaap_LoansPayableToBankCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_LoansPayableToBankCurrent_2_lbl" xml:lang="en-US">Less: Current portion of long-term loans from credit union</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLoansPayableLongTerm" xlink:to="us-gaap_OtherLoansPayableLongTerm_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherLoansPayableLongTerm_2_lbl" xml:lang="en-US">Long-term loans from credit union</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtByMaturityAbstract" xlink:label="us-gaap_LongTermDebtByMaturityAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtByMaturityAbstract" xlink:to="us-gaap_LongTermDebtByMaturityAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtByMaturityAbstract_lbl" xml:lang="en-US">Fiscal year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_lbl" xml:lang="en-US">2019</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl" xml:lang="en-US">2020</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_lbl" xml:lang="en-US">2021</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_lbl" xml:lang="en-US">2022</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive_lbl" xml:lang="en-US">2023</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_lbl" xml:lang="en-US">Total</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LoansPayableLineItems" xlink:label="itp_LoansPayableLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LoansPayableLineItems" xlink:to="itp_LoansPayableLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LoansPayableLineItems_lbl" xml:lang="en-US">Loans Payable [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="us-gaap_FinancialInstrumentAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancialInstrumentAxis" xlink:to="us-gaap_FinancialInstrumentAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancialInstrumentAxis_lbl" xml:lang="en-US">Financial Instrument [Axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NewTermLoansMember" xlink:to="itp_NewTermLoansMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_NewTermLoansMember_2_lbl" xml:lang="en-US">New term loan agreement [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TermLoansMember" xlink:to="itp_TermLoansMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_TermLoansMember_2_lbl" xml:lang="en-US">Long-term loan [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyLoanOneMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyLoanOneMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itp_RuralCreditUnionOfXushuiCountyLoanOneMember_3_lbl" xml:lang="en-US">Rural credit union of xushui District member1 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionDescriptionAxis" xlink:to="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleLeasebackTransactionDescriptionAxis_lbl" xml:lang="en-US">Sale Leaseback Transaction, Description [Axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IndustrialAndCommercialBankOfChinaLoanOneMember" xlink:to="itp_IndustrialAndCommercialBankOfChinaLoanOneMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanOneMember_3_lbl" xml:lang="en-US">ICBC Loan 1 [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itp_RuralCreditUnionOfXushuiCountyMember_3_lbl" xml:lang="en-US">Rural credit union of xushui District [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_Ruralcreditunionofxushuicountymember1Member" xlink:to="itp_Ruralcreditunionofxushuicountymember1Member_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_Ruralcreditunionofxushuicountymember1Member_2_lbl" xml:lang="en-US">Rural credit union of xushui District member1 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LoansPayableTextualAbstract" xlink:label="itp_LoansPayableTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LoansPayableTextualAbstract" xlink:to="itp_LoansPayableTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LoansPayableTextualAbstract_lbl" xml:lang="en-US">Loans Payable (Textual)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermBankLoansAndNotesPayable" xlink:to="us-gaap_ShortTermBankLoansAndNotesPayable_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShortTermBankLoansAndNotesPayable_3_lbl" xml:lang="en-US">Unpaid balance of short term debt</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_UnsecuredDebt" xlink:label="us-gaap_UnsecuredDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnsecuredDebt" xlink:to="us-gaap_UnsecuredDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnsecuredDebt_lbl" xml:lang="en-US">Unsecured bank loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShortTermDebtPercentageBearingFixedInterestRate" xlink:label="us-gaap_ShortTermDebtPercentageBearingFixedInterestRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtPercentageBearingFixedInterestRate" xlink:to="us-gaap_ShortTermDebtPercentageBearingFixedInterestRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermDebtPercentageBearingFixedInterestRate_lbl" xml:lang="en-US">Short-term bank loans, bore interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate" xlink:label="itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate" xlink:to="itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate_lbl" xml:lang="en-US">Short-term bank loans interest rate as percentage of prime rate</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentMaturityDate" xlink:label="us-gaap_DebtInstrumentMaturityDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDate" xlink:to="us-gaap_DebtInstrumentMaturityDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDate_lbl" xml:lang="en-US">Loan, maturity date</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:to="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl" xml:lang="en-US">Long-term debt, Interest rate per month</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LoanExtentionPeriod" xlink:label="itp_LoanExtentionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LoanExtentionPeriod" xlink:to="itp_LoanExtentionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LoanExtentionPeriod_lbl" xml:lang="en-US">Loan extension period</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_InstallmentRepaymentDescription" xlink:label="itp_InstallmentRepaymentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_InstallmentRepaymentDescription" xlink:to="itp_InstallmentRepaymentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_InstallmentRepaymentDescription_lbl" xml:lang="en-US">Installment repayment description</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_BankLoans" xlink:label="us-gaap_BankLoans" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BankLoans" xlink:to="us-gaap_BankLoans_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_BankLoans_lbl" xml:lang="en-US">Loan amount</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansPayable" xlink:label="us-gaap_LoansPayable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansPayable" xlink:to="us-gaap_LoansPayable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansPayable_lbl" xml:lang="en-US">Original repayment of loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LoansPayableToBank" xlink:label="us-gaap_LoansPayableToBank" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansPayableToBank" xlink:to="us-gaap_LoansPayableToBank_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LoansPayableToBank_lbl" xml:lang="en-US">Total outstanding loan balance</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LoansPayableToBankCurrent" xlink:to="us-gaap_LoansPayableToBankCurrent_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LoansPayableToBankCurrent_3_lbl" xml:lang="en-US">Current portion of total outstanding loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermLoansFromBank" xlink:label="us-gaap_LongTermLoansFromBank" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermLoansFromBank" xlink:to="us-gaap_LongTermLoansFromBank_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermLoansFromBank_lbl" xml:lang="en-US">Non-current portion of total outstanding loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestExpenseDebt" xlink:label="us-gaap_InterestExpenseDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseDebt" xlink:to="us-gaap_InterestExpenseDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseDebt_lbl" xml:lang="en-US">Interest expense for the short-term bank loans and long-term loans</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SaleLeasebackTransactionNetProceedsInvestingActivities" xlink:label="us-gaap_SaleLeasebackTransactionNetProceedsInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionNetProceedsInvestingActivities" xlink:to="us-gaap_SaleLeasebackTransactionNetProceedsInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleLeasebackTransactionNetProceedsInvestingActivities_lbl" xml:lang="en-US">Proceeds from sale of paper manufacturing equipment to leasing company</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition" xlink:label="us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition" xlink:to="us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition_lbl" xml:lang="en-US">Security loan agreement by manufacturing equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xlink:label="us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xlink:to="us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities_lbl" xml:lang="en-US">Total financing proceeds</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SaleLeasebackTransactionNominalPurchasePrice" xlink:label="itp_SaleLeasebackTransactionNominalPurchasePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SaleLeasebackTransactionNominalPurchasePrice" xlink:to="itp_SaleLeasebackTransactionNominalPurchasePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SaleLeasebackTransactionNominalPurchasePrice_lbl" xml:lang="en-US">Nominal purchase price</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LeaseServiceCharge" xlink:label="itp_LeaseServiceCharge" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseServiceCharge" xlink:to="itp_LeaseServiceCharge_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LeaseServiceCharge_lbl" xml:lang="en-US">Lease service charge, description</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LeaseServiceExpense" xlink:label="itp_LeaseServiceExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseServiceExpense" xlink:to="itp_LeaseServiceExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LeaseServiceExpense_lbl" xml:lang="en-US">Lease service expense</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PercentageOfImplicitInterestRate" xlink:label="itp_PercentageOfImplicitInterestRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PercentageOfImplicitInterestRate" xlink:to="itp_PercentageOfImplicitInterestRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PercentageOfImplicitInterestRate_lbl" xml:lang="en-US">Implicit interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_StatedCapitalLease" xlink:label="itp_StatedCapitalLease" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StatedCapitalLease" xlink:to="itp_StatedCapitalLease_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_StatedCapitalLease_lbl" xml:lang="en-US">Stated capital lease</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PaymentForLiquidatedDamages" xlink:label="itp_PaymentForLiquidatedDamages" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PaymentForLiquidatedDamages" xlink:to="itp_PaymentForLiquidatedDamages_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PaymentForLiquidatedDamages_lbl" xml:lang="en-US">Payment for liquidated damage</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentTerms" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentTerms" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtMaturitiesRepaymentTerms" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentTerms_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentTerms_lbl" xml:lang="en-US">Maturities repayment terms, description</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentInterest" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentPeriodicPaymentInterest" xlink:to="us-gaap_DebtInstrumentPeriodicPaymentInterest_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentPeriodicPaymentInterest_lbl" xml:lang="en-US">Payment of interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:label="us-gaap_DebtInstrumentInterestRateDuringPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:to="us-gaap_DebtInstrumentInterestRateDuringPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateDuringPeriod_lbl" xml:lang="en-US">Average short-term borrowing rates</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermLoansPayable" xlink:to="us-gaap_LongTermLoansPayable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermLoansPayable_2_lbl" xml:lang="en-US">Loans from credit union</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsRemainderOfFiscalYear" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsRemainderOfFiscalYear" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsRemainderOfFiscalYear" xlink:to="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsRemainderOfFiscalYear_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FutureMinimumSubleaseRentalsSaleLeasebackTransactionsRemainderOfFiscalYear_lbl" xml:lang="en-US">Future minimum lease payment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtAndCapitalLeaseObligations" xlink:label="us-gaap_LongTermDebtAndCapitalLeaseObligations" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtAndCapitalLeaseObligations" xlink:to="us-gaap_LongTermDebtAndCapitalLeaseObligations_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtAndCapitalLeaseObligations_lbl" xml:lang="en-US">Long-term obligations under capital lease</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:label="us-gaap_CapitalLeaseObligationsCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalLeaseObligationsCurrent" xlink:to="us-gaap_CapitalLeaseObligationsCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CapitalLeaseObligationsCurrent_lbl" xml:lang="en-US">Current obligations under capital lease</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SaleLeaseBackTransactionInterestExpense" xlink:label="itp_SaleLeaseBackTransactionInterestExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SaleLeaseBackTransactionInterestExpense" xlink:to="itp_SaleLeaseBackTransactionInterestExpense_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SaleLeaseBackTransactionInterestExpense_lbl" xml:lang="en-US">Total interest expenses for the sale-leaseback arrangement</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing" xlink:to="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing_2_lbl" xml:lang="en-US">Value of land use right pledged for sale-leaseback financing</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LandCollateralForCapitalLease" xlink:label="itp_LandCollateralForCapitalLease" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LandCollateralForCapitalLease" xlink:to="itp_LandCollateralForCapitalLease_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LandCollateralForCapitalLease_lbl" xml:lang="en-US">Land collateral for capital lease</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PartialLeasePayment" xlink:label="itp_PartialLeasePayment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PartialLeasePayment" xlink:to="itp_PartialLeasePayment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PartialLeasePayment_lbl" xml:lang="en-US">Partial lease payment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="us-gaap_LiabilitiesNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrent" xlink:to="us-gaap_LiabilitiesNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesNoncurrent_lbl" xml:lang="en-US">Non-current liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="us-gaap_RelatedPartyTransactionLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" xlink:to="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember_2_lbl" xml:lang="en-US">Hebei Fangsheng [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChiefExecutiveOfficerMember" xlink:to="us-gaap_ChiefExecutiveOfficerMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ChiefExecutiveOfficerMember_2_lbl" xml:lang="en-US">CEO [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_RelatedPartyTransactionsTextualAbstract" xlink:label="itp_RelatedPartyTransactionsTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RelatedPartyTransactionsTextualAbstract" xlink:to="itp_RelatedPartyTransactionsTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_RelatedPartyTransactionsTextualAbstract_lbl" xml:lang="en-US">Related Party Transactions (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ProceedsFromPaymentsToLoan" xlink:label="itp_ProceedsFromPaymentsToLoan" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ProceedsFromPaymentsToLoan" xlink:to="itp_ProceedsFromPaymentsToLoan_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ProceedsFromPaymentsToLoan_lbl" xml:lang="en-US">Loan paid off</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent" xlink:to="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent_lbl" xml:lang="en-US">Loans payable to related party</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LoansPayableTerm" xlink:label="itp_LoansPayableTerm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LoansPayableTerm" xlink:to="itp_LoansPayableTerm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LoansPayableTerm_lbl" xml:lang="en-US">Term of loan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_RelatedPartyTransactionRate" xlink:label="us-gaap_RelatedPartyTransactionRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionRate" xlink:to="us-gaap_RelatedPartyTransactionRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionRate_lbl" xml:lang="en-US">Interest rate on loans</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermLoansFromBank" xlink:to="us-gaap_LongTermLoansFromBank_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LongTermLoansFromBank_2_lbl" xml:lang="en-US">Outstanding loan balance</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_UnsecuredLoanExpirationDate" xlink:label="itp_UnsecuredLoanExpirationDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_UnsecuredLoanExpirationDate" xlink:to="itp_UnsecuredLoanExpirationDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_UnsecuredLoanExpirationDate_lbl" xml:lang="en-US">Loan matures date</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPayableCurrent" xlink:to="us-gaap_InterestPayableCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InterestPayableCurrent_2_lbl" xml:lang="en-US">Accrued interest</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestExpenseRelatedParty" xlink:label="us-gaap_InterestExpenseRelatedParty" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseRelatedParty" xlink:to="us-gaap_InterestExpenseRelatedParty_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseRelatedParty_lbl" xml:lang="en-US">Loan from related parties, interest expense</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromRelatedPartyDebt" xlink:to="us-gaap_ProceedsFromRelatedPartyDebt_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromRelatedPartyDebt_2_lbl" xml:lang="en-US">Proceeds from shareholders loan</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="us-gaap_EquityMethodInvestmentOwnershipPercentage_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage_2_lbl" xml:lang="en-US">Percentage of ownership</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_PaymentsForRent" xlink:label="us-gaap_PaymentsForRent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRent" xlink:to="us-gaap_PaymentsForRent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRent_lbl" xml:lang="en-US">Rental payment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesNoncurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesNoncurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesNoncurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherAccruedLiabilitiesNoncurrent_lbl" xml:lang="en-US">Other payables and accrued liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_AssetLeaseTerm" xlink:label="itp_AssetLeaseTerm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AssetLeaseTerm" xlink:to="itp_AssetLeaseTerm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_AssetLeaseTerm_lbl" xml:lang="en-US">Industrial building lease term</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NumberOfDormitoryBuildings" xlink:label="itp_NumberOfDormitoryBuildings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfDormitoryBuildings" xlink:to="itp_NumberOfDormitoryBuildings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NumberOfDormitoryBuildings_lbl" xml:lang="en-US">Number of dormitory buildings</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SalePriceOfLandUseRights" xlink:label="itp_SalePriceOfLandUseRights" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SalePriceOfLandUseRights" xlink:to="itp_SalePriceOfLandUseRights_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SalePriceOfLandUseRights_lbl" xml:lang="en-US">Sale price of industrial land use rights</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SalePriceOfIndustrialBuilding" xlink:label="itp_SalePriceOfIndustrialBuilding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SalePriceOfIndustrialBuilding" xlink:to="itp_SalePriceOfIndustrialBuilding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SalePriceOfIndustrialBuilding_lbl" xml:lang="en-US">Sale price of industrial building</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="us-gaap_LeaseExpirationDate1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseExpirationDate1" xlink:to="us-gaap_LeaseExpirationDate1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseExpirationDate1_lbl" xml:lang="en-US">Lease expiration date</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrent" xlink:to="us-gaap_DueToRelatedPartiesCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DueToRelatedPartiesCurrent_2_lbl" xml:lang="en-US">Accrued rental owned to Hebei Fangsheng</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_InterestPaid" xlink:label="us-gaap_InterestPaid" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaid" xlink:to="us-gaap_InterestPaid_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaid_lbl" xml:lang="en-US">Interest paid</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfRelatedPartyDebt" xlink:to="us-gaap_RepaymentsOfRelatedPartyDebt_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfRelatedPartyDebt_2_lbl" xml:lang="en-US">Repayment of related party loans</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SalePriceOfDormitoryBuildings" xlink:label="itp_SalePriceOfDormitoryBuildings" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SalePriceOfDormitoryBuildings" xlink:to="itp_SalePriceOfDormitoryBuildings_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SalePriceOfDormitoryBuildings_lbl" xml:lang="en-US">Sale price of dormitory buildings</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LesseeFinanceLeaseRenewalTerm1" xlink:label="us-gaap_LesseeFinanceLeaseRenewalTerm1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeFinanceLeaseRenewalTerm1" xlink:to="us-gaap_LesseeFinanceLeaseRenewalTerm1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeFinanceLeaseRenewalTerm1_lbl" xml:lang="en-US">Lease term renewed</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LeaseTermExtended" xlink:label="itp_LeaseTermExtended" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseTermExtended" xlink:to="itp_LeaseTermExtended_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LeaseTermExtended_lbl" xml:lang="en-US">Lease term extend</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DueFromRelatedParties" xlink:label="us-gaap_DueFromRelatedParties" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedParties" xlink:to="us-gaap_DueFromRelatedParties_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueFromRelatedParties_lbl" xml:lang="en-US">Due to shareholder</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NotesPayableTextualAbstract" xlink:label="itp_NotesPayableTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NotesPayableTextualAbstract" xlink:to="itp_NotesPayableTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NotesPayableTextualAbstract_lbl" xml:lang="en-US">Notes Payable (Textual)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShortTermDebtPercentageBearingFixedInterestRate" xlink:to="us-gaap_ShortTermDebtPercentageBearingFixedInterestRate_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShortTermDebtPercentageBearingFixedInterestRate_2_lbl" xml:lang="en-US">Bank acceptance notes from bank, interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_HandlingChargesOfBankAcceptanceNotesPercentage" xlink:label="itp_HandlingChargesOfBankAcceptanceNotesPercentage" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_HandlingChargesOfBankAcceptanceNotesPercentage" xlink:to="itp_HandlingChargesOfBankAcceptanceNotesPercentage_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_HandlingChargesOfBankAcceptanceNotesPercentage_lbl" xml:lang="en-US">Handling charges of bank acceptance notes percentage</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DebtInstrumentMaturityDateDescription" xlink:label="us-gaap_DebtInstrumentMaturityDateDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentMaturityDateDescription" xlink:to="us-gaap_DebtInstrumentMaturityDateDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentMaturityDateDescription_lbl" xml:lang="en-US">Description of maturity of notes payable</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract" xlink:label="itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract" xlink:to="itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract_lbl" xml:lang="en-US">Summary of other payables and accrued liabilities</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccruedUtilitiesCurrent" xlink:label="us-gaap_AccruedUtilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedUtilitiesCurrent" xlink:to="us-gaap_AccruedUtilitiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedUtilitiesCurrent_lbl" xml:lang="en-US">Accrued electricity</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ValueAddedTaxesPayableCurrent" xlink:label="itp_ValueAddedTaxesPayableCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueAddedTaxesPayableCurrent" xlink:to="itp_ValueAddedTaxesPayableCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ValueAddedTaxesPayableCurrent_lbl" xml:lang="en-US">Value-added tax payable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accrued interest to a related party</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsPayableOtherCurrent" xlink:label="us-gaap_AccountsPayableOtherCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableOtherCurrent" xlink:to="us-gaap_AccountsPayableOtherCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableOtherCurrent_lbl" xml:lang="en-US">Payable for purchase of equipment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccruedSalesCommissionCurrent" xlink:label="us-gaap_AccruedSalesCommissionCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedSalesCommissionCurrent" xlink:to="us-gaap_AccruedSalesCommissionCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedSalesCommissionCurrent_lbl" xml:lang="en-US">Accrued commission to salesmen</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Others</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Totals</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_lbl" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandTwelveIncentiveStockPlanMember" xlink:to="itp_TwoThousandTwelveIncentiveStockPlanMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_TwoThousandTwelveIncentiveStockPlanMember_2_lbl" xml:lang="en-US">2012 Incentive Stock Plan [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandFifteenIncentiveStockPlanMember" xlink:to="itp_TwoThousandFifteenIncentiveStockPlanMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_TwoThousandFifteenIncentiveStockPlanMember_2_lbl" xml:lang="en-US">2015 Omnibus Equity Incentive [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestorMember" xlink:to="us-gaap_InvestorMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestorMember_2_lbl" xml:lang="en-US">Investors [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_CommonStockTextualAbstract" xlink:label="itp_CommonStockTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CommonStockTextualAbstract" xlink:to="itp_CommonStockTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_CommonStockTextualAbstract_lbl" xml:lang="en-US">Common Stock (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Issuance of common stock and warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_WarrantsToPurchaseOfCommonStock" xlink:label="itp_WarrantsToPurchaseOfCommonStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WarrantsToPurchaseOfCommonStock" xlink:to="itp_WarrantsToPurchaseOfCommonStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_WarrantsToPurchaseOfCommonStock_lbl" xml:lang="en-US">Warrants to purchase of common stock</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SharePrice" xlink:label="us-gaap_SharePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharePrice" xlink:to="us-gaap_SharePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharePrice_lbl" xml:lang="en-US">Share price</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross_lbl" xml:lang="en-US">Shares of common stock under compensatory incentive plans</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NumberOfOfficers" xlink:label="itp_NumberOfOfficers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfOfficers" xlink:to="itp_NumberOfOfficers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NumberOfOfficers_lbl" xml:lang="en-US">Number of officers</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross" xlink:label="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross" xlink:to="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross_lbl" xml:lang="en-US">Total fair value of stock of grant</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember" xlink:to="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember_3_lbl" xml:lang="en-US">Date of Issuance August 27, 2014 to September 2, 2019 [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember" xlink:to="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember_3_lbl" xml:lang="en-US">Date of Issuance September 3, 2014 to June 26, 2019 [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_FairValueAssumptionExpectedTerm" xlink:label="itp_FairValueAssumptionExpectedTerm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionExpectedTerm" xlink:to="itp_FairValueAssumptionExpectedTerm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_FairValueAssumptionExpectedTerm_lbl" xml:lang="en-US">Terms of warrants</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_FairValueAssumptionExpectedVolatilityRate" xlink:label="itp_FairValueAssumptionExpectedVolatilityRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionExpectedVolatilityRate" xlink:to="itp_FairValueAssumptionExpectedVolatilityRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_FairValueAssumptionExpectedVolatilityRate_lbl" xml:lang="en-US">Expected volatility</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_FairValueAssumptionRiskFreeInterestRate" xlink:label="itp_FairValueAssumptionRiskFreeInterestRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionRiskFreeInterestRate" xlink:to="itp_FairValueAssumptionRiskFreeInterestRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_FairValueAssumptionRiskFreeInterestRate_lbl" xml:lang="en-US">Risk-free interest rate</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_FairValueAssumptionExpectedDividendRate" xlink:label="itp_FairValueAssumptionExpectedDividendRate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionExpectedDividendRate" xlink:to="itp_FairValueAssumptionExpectedDividendRate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_FairValueAssumptionExpectedDividendRate_lbl" xml:lang="en-US">Expected dividend yield</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DerivativeTable" xlink:label="us-gaap_DerivativeTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeTable" xlink:to="us-gaap_DerivativeTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeTable_lbl" xml:lang="en-US">Derivative [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_DerivativeLineItems" xlink:label="us-gaap_DerivativeLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DerivativeLineItems" xlink:to="us-gaap_DerivativeLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DerivativeLineItems_lbl" xml:lang="en-US">Derivative [Line Items]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_lbl" xml:lang="en-US">Number</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Outstanding and exercisable at beginning of the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US">Issued during the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Exercised during the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_lbl" xml:lang="en-US">Cancelled or expired during the year</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_2_lbl" xml:lang="en-US">Outstanding and exercisable at end of the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_lbl" xml:lang="en-US">Weight average exercise price</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl" xml:lang="en-US">Outstanding and exercisable at beginning of the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Issued during the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Exercised during the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Cancelled or expired during the year</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_2_lbl" xml:lang="en-US">Outstanding and exercisable at end of the year</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit_lbl" xml:lang="en-US">Range of exercise price, lower range limit</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit_lbl" xml:lang="en-US">Range of exercise price, upper range limit</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_StockWarrantsTextualAbstract" xlink:label="itp_StockWarrantsTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockWarrantsTextualAbstract" xlink:to="itp_StockWarrantsTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_StockWarrantsTextualAbstract_lbl" xml:lang="en-US">Stock Warrants (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_CommonStockIssuedToPurchaseStock" xlink:label="itp_CommonStockIssuedToPurchaseStock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CommonStockIssuedToPurchaseStock" xlink:to="itp_CommonStockIssuedToPurchaseStock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_CommonStockIssuedToPurchaseStock_lbl" xml:lang="en-US">Warrants to purchase shares of common stock</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentWarrantsExercisePrice" xlink:label="invest_InvestmentWarrantsExercisePrice" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentWarrantsExercisePrice" xlink:to="invest_InvestmentWarrantsExercisePrice_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentWarrantsExercisePrice_lbl" xml:lang="en-US">Exercise price</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_WarrantsExercisableTerm" xlink:label="itp_WarrantsExercisableTerm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WarrantsExercisableTerm" xlink:to="itp_WarrantsExercisableTerm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_WarrantsExercisableTerm_lbl" xml:lang="en-US">Warrants exercisable term</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SaleOfStockConsiderationReceivedPerTransaction" xlink:label="us-gaap_SaleOfStockConsiderationReceivedPerTransaction" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockConsiderationReceivedPerTransaction" xlink:to="us-gaap_SaleOfStockConsiderationReceivedPerTransaction_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockConsiderationReceivedPerTransaction_lbl" xml:lang="en-US">Fair value of common stock sold</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_AggregatePercentageOfCommonStockSoldUnderOffering" xlink:label="itp_AggregatePercentageOfCommonStockSoldUnderOffering" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AggregatePercentageOfCommonStockSoldUnderOffering" xlink:to="itp_AggregatePercentageOfCommonStockSoldUnderOffering_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_AggregatePercentageOfCommonStockSoldUnderOffering_lbl" xml:lang="en-US">Aggregate percentage of common stock sold under offering</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:label="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:to="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_lbl" xml:lang="en-US">Aggregate number of shares of common stock sold</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentWarrantsExpirationDate" xlink:label="invest_InvestmentWarrantsExpirationDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentWarrantsExpirationDate" xlink:to="invest_InvestmentWarrantsExpirationDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentWarrantsExpirationDate_lbl" xml:lang="en-US">Warrants expiration date</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding" xlink:to="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_lbl" xml:lang="en-US">Aggregated intrinsic value of warrants outstanding and exercisable</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareReconciliationAbstract" xlink:label="us-gaap_EarningsPerShareReconciliationAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareReconciliationAbstract" xlink:to="us-gaap_EarningsPerShareReconciliationAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareReconciliationAbstract_lbl" xml:lang="en-US">Summary of basic and diluted net income (loss) per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareBasicAbstract" xlink:label="us-gaap_EarningsPerShareBasicAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAbstract" xlink:to="us-gaap_EarningsPerShareBasicAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl" xml:lang="en-US">Basic (loss) income per share</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_5_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="us-gaap_NetIncomeLoss_5_lbl" xml:lang="en-US">Net (loss) income for the year - numerator</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted average common stock outstanding - denominator</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Net (loss) income per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareDilutedAbstract" xlink:label="us-gaap_EarningsPerShareDilutedAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDilutedAbstract" xlink:to="us-gaap_EarningsPerShareDilutedAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDilutedAbstract_lbl" xml:lang="en-US">Diluted (loss) income per share</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_6_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/commentaryGuidance" xlink:label="us-gaap_NetIncomeLoss_6_lbl" xml:lang="en-US">Net (loss) income for the year - numerator</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_WeightedAverageNumberOfSharesOutstandingDilutedGross" xlink:label="itp_WeightedAverageNumberOfSharesOutstandingDilutedGross" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WeightedAverageNumberOfSharesOutstandingDilutedGross" xlink:to="itp_WeightedAverageNumberOfSharesOutstandingDilutedGross_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_WeightedAverageNumberOfSharesOutstandingDilutedGross_lbl" xml:lang="en-US">Weighted average common stock outstanding - denominator</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment" xlink:to="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment_lbl" xml:lang="en-US">Effect of dilution</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted average common stock outstanding - denominator</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Diluted (loss) income per share</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_EarningsLossPerShareTextualAbstract" xlink:label="itp_EarningsLossPerShareTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_EarningsLossPerShareTextualAbstract" xlink:to="itp_EarningsLossPerShareTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_EarningsLossPerShareTextualAbstract_lbl" xml:lang="en-US">Earnings Per Share (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_lbl" xml:lang="en-US">Warrants shares are excluded from calculations of dilutive net income per share</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance_lbl" xml:lang="en-US">Less: Valuation allowance</link:label>
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      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja" xlink:label="itp_EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja" />
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      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_EffectOfExpensesNotDeductibleForPrcTaxPurposes" xlink:label="itp_EffectOfExpensesNotDeductibleForPrcTaxPurposes" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_3_lbl" xml:lang="en-US">Income tax expense</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_FederalTaxationCashProvided" xlink:label="itp_FederalTaxationCashProvided" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FederalTaxationCashProvided" xlink:to="itp_FederalTaxationCashProvided_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_FederalTaxationCashProvided_lbl" xml:lang="en-US">Federal taxation cash provided</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_DescriptionOfCarryForwardsExpire" xlink:label="itp_DescriptionOfCarryForwardsExpire" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DescriptionOfCarryForwardsExpire" xlink:to="itp_DescriptionOfCarryForwardsExpire_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_DescriptionOfCarryForwardsExpire_lbl" xml:lang="en-US">Description of carry forwards expire</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationOtherAdjustments" xlink:to="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationOtherAdjustments_lbl" xml:lang="en-US">Additional income tax expense</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="us-gaap_AwardTypeAxis" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardTypeAxis" xlink:to="us-gaap_AwardTypeAxis_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardTypeAxis_lbl" xml:lang="en-US">Award Type [Axis]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandFifteenIncentiveStockPlanMember" xlink:to="itp_TwoThousandFifteenIncentiveStockPlanMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itp_TwoThousandFifteenIncentiveStockPlanMember_3_lbl" xml:lang="en-US">2015 ISP [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandTwelveIncentiveStockPlanMember" xlink:to="itp_TwoThousandTwelveIncentiveStockPlanMember_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itp_TwoThousandTwelveIncentiveStockPlanMember_3_lbl" xml:lang="en-US">2012 ISP [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandElevenIncentiveStockPlanMember" xlink:to="itp_TwoThousandElevenIncentiveStockPlanMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_TwoThousandElevenIncentiveStockPlanMember_2_lbl" xml:lang="en-US">2011 ISP [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_StockIncentivePlanTextualAbstract" xlink:label="itp_StockIncentivePlanTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockIncentivePlanTextualAbstract" xlink:to="itp_StockIncentivePlanTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_StockIncentivePlanTextualAbstract_lbl" xml:lang="en-US">Stock Incentive Plans (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US">Number of shares authorized for issuance under stock incentive plan</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_lbl" xml:lang="en-US">Shares issued under incentive stock plan</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_UnrestrictedCommonShares" xlink:label="itp_UnrestrictedCommonShares" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_UnrestrictedCommonShares" xlink:to="itp_UnrestrictedCommonShares_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_UnrestrictedCommonShares_lbl" xml:lang="en-US">Un-restricted common shares</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ShareBasedCompensationRestrictedCommonSharesGranted" xlink:label="itp_ShareBasedCompensationRestrictedCommonSharesGranted" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ShareBasedCompensationRestrictedCommonSharesGranted" xlink:to="itp_ShareBasedCompensationRestrictedCommonSharesGranted_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ShareBasedCompensationRestrictedCommonSharesGranted_lbl" xml:lang="en-US">Restricted common shares granted</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract_lbl" xml:lang="en-US">Schedule of future minimum lease payments of all operating leases</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" xml:lang="en-US">2019</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" xml:lang="en-US">2020</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" xml:lang="en-US">2021</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" xml:lang="en-US">2022</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" xml:lang="en-US">2023</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" xml:lang="en-US">Thereafter</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" xml:lang="en-US">Total operating lease payments</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherCommitmentsTable" xlink:label="us-gaap_OtherCommitmentsTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsTable" xlink:to="us-gaap_OtherCommitmentsTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCommitmentsTable_lbl" xml:lang="en-US">Other Commitments [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherCommitmentsLineItems" xlink:label="us-gaap_OtherCommitmentsLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCommitmentsLineItems" xlink:to="us-gaap_OtherCommitmentsLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCommitmentsLineItems_lbl" xml:lang="en-US">Other Commitments [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_InvestmentCompanyMember" xlink:to="itp_InvestmentCompanyMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_InvestmentCompanyMember_2_lbl" xml:lang="en-US">Investment company [Member]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LocalGovernmentMember" xlink:to="itp_LocalGovernmentMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itp_LocalGovernmentMember_2_lbl" xml:lang="en-US">Local government [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_CommitmentsAndContingenciesTextualAbstract" xlink:label="itp_CommitmentsAndContingenciesTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CommitmentsAndContingenciesTextualAbstract" xlink:to="itp_CommitmentsAndContingenciesTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_CommitmentsAndContingenciesTextualAbstract_lbl" xml:lang="en-US">Commitments and Contingencies (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AreaOfLand" xlink:label="us-gaap_AreaOfLand" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AreaOfLand" xlink:to="us-gaap_AreaOfLand_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AreaOfLand_lbl" xml:lang="en-US">Area of land</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_LeaseExpirationPeriod" xlink:label="itp_LeaseExpirationPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseExpirationPeriod" xlink:to="itp_LeaseExpirationPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_LeaseExpirationPeriod_lbl" xml:lang="en-US">Lease expiration period</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="us-gaap_OperatingLeasesRentExpenseNet" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesRentExpenseNet" xlink:to="us-gaap_OperatingLeasesRentExpenseNet_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeasesRentExpenseNet_lbl" xml:lang="en-US">Operating lease annual rental payment</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets" xlink:label="itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets" xlink:to="itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets_lbl" xml:lang="en-US">Outstanding commitments for construction of equipment and facilities</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription" xlink:label="itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription" xlink:to="itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription_lbl" xml:lang="en-US">Performance holdback on new tissue paper payment, description</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebt" xlink:label="us-gaap_LongTermDebt" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebt" xlink:to="us-gaap_LongTermDebt_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebt_lbl" xml:lang="en-US">Long-term loan from financial institutions</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_LongTermDebtDescription" xlink:label="us-gaap_LongTermDebtDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermDebtDescription" xlink:to="us-gaap_LongTermDebtDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermDebtDescription_lbl" xml:lang="en-US">Long-term loan maturity, description</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:to="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_lbl" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="us-gaap_SegmentReportingInformationLineItems" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingInformationLineItems" xlink:to="us-gaap_SegmentReportingInformationLineItems_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingInformationLineItems_lbl" xml:lang="en-US">Segment Reporting Information [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MaterialReconcilingItemsMember" xlink:to="us-gaap_MaterialReconcilingItemsMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_MaterialReconcilingItemsMember_2_lbl" xml:lang="en-US">Not Attributable to Segments [Member]</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_SummarizedFinancialInformationForReportableSegmentsAbstract_lbl" xml:lang="en-US">Summarized financial information for reportable segments</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/measurementGuidance" xlink:label="us-gaap_NetIncomeLoss_7_lbl" xml:lang="en-US">Net income (loss)</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Assets_3_lbl" xml:lang="en-US">Total assets</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SegmentReportingTextualAbstract" xlink:to="itp_SegmentReportingTextualAbstract_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfOperatingSegments_lbl" xml:lang="en-US">Number of business operating segments</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfReportableSegments" xlink:to="us-gaap_NumberOfReportableSegments_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xml:lang="en-US">Number of reportable segment</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConcentrationRiskTable" xlink:label="us-gaap_ConcentrationRiskTable" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskTable_lbl" xml:lang="en-US">Concentration Risk [Table]</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_ConcentrationRiskLineItems" xlink:label="us-gaap_ConcentrationRiskLineItems" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskLineItems_lbl" xml:lang="en-US">Concentration Risk [Line Items]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SalesRevenueNetMember_2_lbl" xml:lang="en-US">Sales [Member]</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract" xlink:label="itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract" xlink:to="itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract_lbl" xml:lang="en-US">Concentration and Major Customers and Suppliers (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NumberOfSuppliers" xlink:label="itp_NumberOfSuppliers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfSuppliers" xlink:to="itp_NumberOfSuppliers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NumberOfSuppliers_lbl" xml:lang="en-US">Number of major supplier</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_NumberOfCustomer" xlink:label="itp_NumberOfCustomer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfCustomer" xlink:to="itp_NumberOfCustomer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NumberOfCustomer_lbl" xml:lang="en-US">Number of customer</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_ConcentrationOfCreditRiskTextualAbstract" xlink:label="itp_ConcentrationOfCreditRiskTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ConcentrationOfCreditRiskTextualAbstract" xlink:to="itp_ConcentrationOfCreditRiskTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_ConcentrationOfCreditRiskTextualAbstract_lbl" xml:lang="en-US">Concentration of Credit Risk (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_FederalDepositInsuranceCorporationPremiumExpense" xlink:label="us-gaap_FederalDepositInsuranceCorporationPremiumExpense" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FederalDepositInsuranceCorporationPremiumExpense" xlink:to="us-gaap_FederalDepositInsuranceCorporationPremiumExpense_lbl" xlink:type="arc" />
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      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_CashFDICInsuredAmount" xlink:label="us-gaap_CashFDICInsuredAmount" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashFDICInsuredAmount" xlink:to="us-gaap_CashFDICInsuredAmount_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashFDICInsuredAmount_lbl" xml:lang="en-US">Maximum coverage from FDIC</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_QuarterlyFinancialInformationTextualAbstract" xlink:label="itp_QuarterlyFinancialInformationTextualAbstract" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_QuarterlyFinancialInformationTextualAbstract_lbl" xml:lang="en-US">Summarized Quarterly Financial Data (Unaudited) [Abstract]</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GrossProfit" xlink:to="us-gaap_GrossProfit_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GrossProfit_3_lbl" xml:lang="en-US">Gross (loss) profit</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_2_lbl" xml:lang="en-US">Loss from operations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_8_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_8_lbl" xml:lang="en-US">Net (loss) income</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:to="us-gaap_EarningsPerShareBasicAndDilutedAbstract_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasicAndDilutedAbstract_2_lbl" xml:lang="en-US">Net income per share</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasic_2_lbl" xml:lang="en-US">Basic</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_2_lbl" xml:lang="en-US">Diluted</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_4_lbl" xml:lang="en-US">Cash and cash equivalents</link:label>
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      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsAndOtherNoncurrentAssets" xlink:to="us-gaap_InvestmentsAndOtherNoncurrentAssets_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentsAndOtherNoncurrentAssets_lbl" xml:lang="en-US">Investment in subsidiaries</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_InterCompanyPayableCurrent" xlink:label="itp_InterCompanyPayableCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_InterCompanyPayableCurrent" xlink:to="itp_InterCompanyPayableCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_InterCompanyPayableCurrent_lbl" xml:lang="en-US">Inter-company payable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccruedLiabilitiesCurrent_2_lbl" xml:lang="en-US">Accrued liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedIncomeTaxesCurrent" xlink:to="us-gaap_AccruedIncomeTaxesCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccruedIncomeTaxesCurrent_2_lbl" xml:lang="en-US">Income tax payable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_4_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_4_lbl" xml:lang="en-US">Total stockholders' equity</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">Operating expenses</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_2_lbl" xlink:type="arc" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_2_lbl" xml:lang="en-US">Selling, general and administrative expenses</link:label>
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="us-gaap_OperatingIncomeLoss_3_lbl" xml:lang="en-US">Loss from Operations</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_EquityInEarningsOfUnconsolidatedSubsidiaries" xlink:label="itp_EquityInEarningsOfUnconsolidatedSubsidiaries" />
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      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_5_lbl" xml:lang="en-US">Provision for Income Taxes</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_9_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xlink:label="us-gaap_NetIncomeLoss_9_lbl" xml:lang="en-US">Net Income</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossTax" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossTax_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossTax_lbl" xml:lang="en-US">Other comprehensive income /(loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_2_lbl" xml:lang="en-US">Total Comprehensive Income (loss)</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_2_lbl" xml:lang="en-US">Net Cash (Used in) Provided by Operating Activities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_2_lbl" xml:lang="en-US">Net Cash Used in Investing Activities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_2_lbl" xml:lang="en-US">Net Cash Provided by Financing Activities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2_lbl" xml:lang="en-US">Net Increase (Decrease) in Cash and Cash Equivalents</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_CondensedFinancialInformationOfParentCompanyTextualAbstract" xlink:label="itp_CondensedFinancialInformationOfParentCompanyTextualAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CondensedFinancialInformationOfParentCompanyTextualAbstract" xlink:to="itp_CondensedFinancialInformationOfParentCompanyTextualAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_CondensedFinancialInformationOfParentCompanyTextualAbstract_lbl" xml:lang="en-US">Condensed Financial Information of the Parent Company (Textual)</link:label>
      <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2018/elts/us-gaap-2018-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition_lbl" xml:lang="en-US">Restricted including paid-in capital, capital surplus and statutory reserves</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AggregatePercentageOfCommonStockSoldUnderOffering" xlink:to="itp_AggregatePercentageOfCommonStockSoldUnderOffering_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_AggregatePercentageOfCommonStockSoldUnderOffering_doc" xml:lang="en-US">Aggregate percentage of common stock sold under offering.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AssetLeaseTerm" xlink:to="itp_AssetLeaseTerm_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_AssetLeaseTerm_doc" xml:lang="en-US">Asset lease term.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_BaodingShengdeMember" xlink:to="itp_BaodingShengdeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_BaodingShengdeMember_doc" xml:lang="en-US">Baoding Shengde.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_BasePaperAndOtherRawMaterialsMember" xlink:to="itp_BasePaperAndOtherRawMaterialsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_BasePaperAndOtherRawMaterialsMember_doc" xml:lang="en-US">Base Paper and Other Raw Materials.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CashBankBalances" xlink:to="itp_CashBankBalances_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_CashBankBalances_doc" xml:lang="en-US">The amount of cash bank balance.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets" xlink:to="itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets_doc" xml:lang="en-US">Commitments for purchase or construction of capital assets.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CommonStockIssuedToPurchaseStock" xlink:to="itp_CommonStockIssuedToPurchaseStock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_CommonStockIssuedToPurchaseStock_doc" xml:lang="en-US">Common stock issued to purchase stock.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ConcentrationAndMajorCustomersAndSuppliersTextBlock" xlink:to="itp_ConcentrationAndMajorCustomersAndSuppliersTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ConcentrationAndMajorCustomersAndSuppliersTextBlock_doc" xml:lang="en-US">Disclosure of concentration and major customers and suppliers.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CurrentPortionOfLongTermLoansFromCreditUnion" xlink:to="itp_CurrentPortionOfLongTermLoansFromCreditUnion_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_CurrentPortionOfLongTermLoansFromCreditUnion_doc" xml:lang="en-US">The amount of current portion of long-term loans from credit union.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember" xlink:to="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember_doc" xml:lang="en-US">Date of issuance three september two thousand fourteen to twenty six june two thousand nineteen.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember" xlink:to="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember_doc" xml:lang="en-US">Date of issuance twenty seventh august two thousand fourteen to two september two thousand nineteen.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate" xlink:to="itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DebtInstrumentInterestRateAsPercentageOfPrimeRate_doc" xml:lang="en-US">Debt instrument interest rate as percentage of prime rate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DeferredTaxAssetsDepreciationOfAmortizationPropertyPlantAndEquipmentCurrent" xlink:to="itp_DeferredTaxAssetsDepreciationOfAmortizationPropertyPlantAndEquipmentCurrent_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DeferredTaxAssetsDepreciationOfAmortizationPropertyPlantAndEquipmentCurrent_doc" xml:lang="en-US">Deferred tax assets depreciation of amortization property plant and equipment current.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DeferredTaxAssetsImpairmentOfAmortizationPropertyPlantAndEquipmentCurrent" xlink:to="itp_DeferredTaxAssetsImpairmentOfAmortizationPropertyPlantAndEquipmentCurrent_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DeferredTaxAssetsImpairmentOfAmortizationPropertyPlantAndEquipmentCurrent_doc" xml:lang="en-US">Deferred tax assets impairment of property, plant and equipment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DeferredTaxAssetsMiscellaneousCurrent" xlink:to="itp_DeferredTaxAssetsMiscellaneousCurrent_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DeferredTaxAssetsMiscellaneousCurrent_doc" xml:lang="en-US">Deferred tax asset Miscellaneous.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DeferredTaxAssetsValuationAllowancePercentage" xlink:to="itp_DeferredTaxAssetsValuationAllowancePercentage_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DeferredTaxAssetsValuationAllowancePercentage_doc" xml:lang="en-US">Deferred tax assets valuation allowance percentage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DescriptionOfCarryForwardsExpire" xlink:to="itp_DescriptionOfCarryForwardsExpire_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DescriptionOfCarryForwardsExpire_doc" xml:lang="en-US">Description of carry forwards expire.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DongfangHoldingMember" xlink:to="itp_DongfangHoldingMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DongfangHoldingMember_doc" xml:lang="en-US">Dongfang Holding.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_DongfangPaperMember" xlink:to="itp_DongfangPaperMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_DongfangPaperMember_doc" xml:lang="en-US">Hebei Baoding Orient Paper Milling Company Limited.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_EnterpriseWideConsolidatedMember" xlink:to="itp_EnterpriseWideConsolidatedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_EnterpriseWideConsolidatedMember_doc" xml:lang="en-US">Enterprise-wide, consolidated.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_EntityWideAssetsMajorCustomerPercentage" xlink:to="itp_EntityWideAssetsMajorCustomerPercentage_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_EntityWideAssetsMajorCustomerPercentage_doc" xml:lang="en-US">Entity wide assets major customer percentage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_EquityMethodInvestmentOwnershipPercentageDescription" xlink:to="itp_EquityMethodInvestmentOwnershipPercentageDescription_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_EquityMethodInvestmentOwnershipPercentageDescription_doc" xml:lang="en-US">Description of equity method investment ownership percentage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionExpectedDividendRate" xlink:to="itp_FairValueAssumptionExpectedDividendRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_FairValueAssumptionExpectedDividendRate_doc" xml:lang="en-US">Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price).</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionExpectedTerm" xlink:to="itp_FairValueAssumptionExpectedTerm_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_FairValueAssumptionExpectedTerm_doc" xml:lang="en-US">Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionExpectedVolatilityRate" xlink:to="itp_FairValueAssumptionExpectedVolatilityRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_FairValueAssumptionExpectedVolatilityRate_doc" xml:lang="en-US">Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FairValueAssumptionRiskFreeInterestRate" xlink:to="itp_FairValueAssumptionRiskFreeInterestRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_FairValueAssumptionRiskFreeInterestRate_doc" xml:lang="en-US">Risk-free interest rate assumption used in valuing an instrument.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_FederalTaxationCashProvided" xlink:to="itp_FederalTaxationCashProvided_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_FederalTaxationCashProvided_doc" xml:lang="en-US">Federal taxation cash provided.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_HandlingChargesOfBankAcceptanceNotesPercentage" xlink:to="itp_HandlingChargesOfBankAcceptanceNotesPercentage_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_HandlingChargesOfBankAcceptanceNotesPercentage_doc" xml:lang="en-US">Handling charges of bank acceptance notes percentage.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember" xlink:to="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember_doc" xml:lang="en-US">Hebei Fangsheng Real Estate Development Company Limited.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IncomeTaxesTextualAbstract" xlink:to="itp_IncomeTaxesTextualAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_IncomeTaxesTextualAbstract_doc" xml:lang="en-US">Income taxes textual.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IncomeTaxStatuteOfLimitationsPeriod" xlink:to="itp_IncomeTaxStatuteOfLimitationsPeriod_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_IncomeTaxStatuteOfLimitationsPeriod_doc" xml:lang="en-US">Income tax statute of limitation period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IncreaseDecreaseInAdvanceFromCustomers" xlink:to="itp_IncreaseDecreaseInAdvanceFromCustomers_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_IncreaseDecreaseInAdvanceFromCustomers_doc" xml:lang="en-US">Amount of advance from customers for the reporting period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IndustrialAndCommercialBankOfChinaLoanOneMember" xlink:to="itp_IndustrialAndCommercialBankOfChinaLoanOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanOneMember_doc" xml:lang="en-US">It represents about industrial and commercial bank of china loan one member.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IndustrialAndCommercialBankOfChinaLoanThreeMember" xlink:to="itp_IndustrialAndCommercialBankOfChinaLoanThreeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanThreeMember_doc" xml:lang="en-US">It represents about industrial and commercial bank of china loan three member.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_IndustrialAndCommercialBankOfChinaLoanTwoMember" xlink:to="itp_IndustrialAndCommercialBankOfChinaLoanTwoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_IndustrialAndCommercialBankOfChinaLoanTwoMember_doc" xml:lang="en-US">It represents about industrial and commercial bank of china loan two member.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_InstallmentRepaymentDescription" xlink:to="itp_InstallmentRepaymentDescription_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_InstallmentRepaymentDescription_doc" xml:lang="en-US">Description regarding repayment of installment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_InvestmentCompanyMember" xlink:to="itp_InvestmentCompanyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_InvestmentCompanyMember_doc" xml:lang="en-US">Investment company in the Economic Development Zone in Wei County, Hebei, China.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LandCollateralForCapitalLease" xlink:to="itp_LandCollateralForCapitalLease_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LandCollateralForCapitalLease_doc" xml:lang="en-US">land collateral forcapital lease.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LandUseRightsMember" xlink:to="itp_LandUseRightsMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LandUseRightsMember_doc" xml:lang="en-US">Land use rights.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseExpiration" xlink:to="itp_LeaseExpiration_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LeaseExpiration_doc" xml:lang="en-US">Lease expiration.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseExpirationPeriod" xlink:to="itp_LeaseExpirationPeriod_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LeaseExpirationPeriod_doc" xml:lang="en-US">Lease expiration period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseServiceCharge" xlink:to="itp_LeaseServiceCharge_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LeaseServiceCharge_doc" xml:lang="en-US">Lease service charge.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseServiceExpense" xlink:to="itp_LeaseServiceExpense_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LeaseServiceExpense_doc" xml:lang="en-US">Lease service expense.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseTermExtended" xlink:to="itp_LeaseTermExtended_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LeaseTermExtended_doc" xml:lang="en-US">Lease term extended.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LiquidityAndGoingConcernPolicyTextBlock" xlink:to="itp_LiquidityAndGoingConcernPolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LiquidityAndGoingConcernPolicyTextBlock_doc" xml:lang="en-US">Disclosure of accounting policy for liquidity and going concern.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LoanExtentionPeriod" xlink:to="itp_LoanExtentionPeriod_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LoanExtentionPeriod_doc" xml:lang="en-US">Period for which loan extended by the company.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LoansPayableTerm" xlink:to="itp_LoansPayableTerm_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LoansPayableTerm_doc" xml:lang="en-US">Duration of loans payable.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LocalGovernmentMember" xlink:to="itp_LocalGovernmentMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LocalGovernmentMember_doc" xml:lang="en-US">Local government in Xushui County, Baoding City, Hebei, China.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_MrZhenyongLiuMember" xlink:to="itp_MrZhenyongLiuMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_MrZhenyongLiuMember_doc" xml:lang="en-US">Mr. Zhenyong Liu.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NetCashGeneratedFromOperations" xlink:to="itp_NetCashGeneratedFromOperations_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NetCashGeneratedFromOperations_doc" xml:lang="en-US">Net cash generated from operations.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NetCashOut" xlink:to="itp_NetCashOut_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NetCashOut_doc" xml:lang="en-US">Net cash out.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NonCashRestrictedCash" xlink:to="itp_NonCashRestrictedCash_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NonCashRestrictedCash_doc" xml:lang="en-US">The amount of non cash restricted cash.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NonRecurringFairValueMeasurementsPolicyTextBlock" xlink:to="itp_NonRecurringFairValueMeasurementsPolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NonRecurringFairValueMeasurementsPolicyTextBlock_doc" xml:lang="en-US">Disclosure of accounting policy for non recurring fair value measurements</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfCustomer" xlink:to="itp_NumberOfCustomer_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NumberOfCustomer_doc" xml:lang="en-US">Number of customer contributed over 10% of total sales.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfDormitoryBuildings" xlink:to="itp_NumberOfDormitoryBuildings_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NumberOfDormitoryBuildings_doc" xml:lang="en-US">Number of dormitory buildings.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfOfficers" xlink:to="itp_NumberOfOfficers_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NumberOfOfficers_doc" xml:lang="en-US">Number of officers.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NumberOfSuppliers" xlink:to="itp_NumberOfSuppliers_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NumberOfSuppliers_doc" xml:lang="en-US">Number of suppliers.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PartialLeasePayment" xlink:to="itp_PartialLeasePayment_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PartialLeasePayment_doc" xml:lang="en-US">Partial lease payment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PaymentForLiquidatedDamages" xlink:to="itp_PaymentForLiquidatedDamages_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PaymentForLiquidatedDamages_doc" xml:lang="en-US">Payments made for liquidated damages.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PercentageOfImplicitInterestRate" xlink:to="itp_PercentageOfImplicitInterestRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PercentageOfImplicitInterestRate_doc" xml:lang="en-US">Percentage of implicit interest rate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PercentageShareOfDistributableProfit" xlink:to="itp_PercentageShareOfDistributableProfit_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PercentageShareOfDistributableProfit_doc" xml:lang="en-US">Percentage share of distributable profit.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription" xlink:to="itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription_doc" xml:lang="en-US">Performance holdback on new tissue paper payment description.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock" xlink:to="itp_PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock_doc" xml:lang="en-US">The disclosure describes the Company's prepaid and other current assets.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PrepaidLandLease" xlink:to="itp_PrepaidLandLease_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PrepaidLandLease_doc" xml:lang="en-US">Amount of asset related to consideration paid in advance for land lease.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ProceedsFromPaymentsToLoan" xlink:to="itp_ProceedsFromPaymentsToLoan_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ProceedsFromPaymentsToLoan_doc" xml:lang="en-US">The amount of loan paid off.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ProceedsFromRuralCreditUnionLoans" xlink:to="itp_ProceedsFromRuralCreditUnionLoans_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ProceedsFromRuralCreditUnionLoans_doc" xml:lang="en-US">Amount of cash inflow from credit rural union loans during the period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ProductionCapacityOfManufacturingEquipment" xlink:to="itp_ProductionCapacityOfManufacturingEquipment_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ProductionCapacityOfManufacturingEquipment_doc" xml:lang="en-US">Production capacity of manufacturing equipment.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility" xlink:to="itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility_doc" xml:lang="en-US">Property plant and equipment loan drawn from banking facility.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_PublicUtilitiesInventoryCoalAndGasMember" xlink:to="itp_PublicUtilitiesInventoryCoalAndGasMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_PublicUtilitiesInventoryCoalAndGasMember_doc" xml:lang="en-US">Public Utilities Inventory Coal And Gas.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RecycledPaperBoardMember" xlink:to="itp_RecycledPaperBoardMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_RecycledPaperBoardMember_doc" xml:lang="en-US">Recycled paper board.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RecycledWhiteScrapPaperMember" xlink:to="itp_RecycledWhiteScrapPaperMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_RecycledWhiteScrapPaperMember_doc" xml:lang="en-US">Recycled White Scrap Paper.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RestrictedCashDescription" xlink:to="itp_RestrictedCashDescription_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_RestrictedCashDescription_doc" xml:lang="en-US">Restricted Cash, Description.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RisksAndUncertaintiesTextBlock" xlink:to="itp_RisksAndUncertaintiesTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_RisksAndUncertaintiesTextBlock_doc" xml:lang="en-US">The entire disclosure for risks and uncertainties.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_RuralCreditUnionOfXushuiCountyMember" xlink:to="itp_RuralCreditUnionOfXushuiCountyMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_RuralCreditUnionOfXushuiCountyMember_doc" xml:lang="en-US">Rural credit union of Xushui County.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SaleLeaseBackTransactionInterestExpense" xlink:to="itp_SaleLeaseBackTransactionInterestExpense_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SaleLeaseBackTransactionInterestExpense_doc" xml:lang="en-US">The amount of the current period interest expense recorded for use of the property in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SaleLeasebackTransactionLeasePeriod" xlink:to="itp_SaleLeasebackTransactionLeasePeriod_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SaleLeasebackTransactionLeasePeriod_doc" xml:lang="en-US">Period of lease in sale leaseback transaction, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SaleLeasebackTransactionNominalPurchasePrice" xlink:to="itp_SaleLeasebackTransactionNominalPurchasePrice_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SaleLeasebackTransactionNominalPurchasePrice_doc" xml:lang="en-US">Sale leaseback transaction, Nominal purchase price</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SalePriceOfDormitoryBuildings" xlink:to="itp_SalePriceOfDormitoryBuildings_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SalePriceOfDormitoryBuildings_doc" xml:lang="en-US">Dormitory buildings sale price.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SalePriceOfIndustrialBuilding" xlink:to="itp_SalePriceOfIndustrialBuilding_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SalePriceOfIndustrialBuilding_doc" xml:lang="en-US">Sale price of industrial building.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SalePriceOfLandUseRights" xlink:to="itp_SalePriceOfLandUseRights_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SalePriceOfLandUseRights_doc" xml:lang="en-US">Sale price of land use rights.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock" xlink:to="itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock_doc" xml:lang="en-US">Tabular disclosure of long-term debt repayments.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock" xlink:to="itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock_doc" xml:lang="en-US">Schedule of Prepaid Expenses and Other Current Assets.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ServiceFeePercentageOfNetProfit" xlink:to="itp_ServiceFeePercentageOfNetProfit_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ServiceFeePercentageOfNetProfit_doc" xml:lang="en-US">Service fees percentage of annual net profit.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ShareBasedCompensationRestrictedCommonSharesGranted" xlink:to="itp_ShareBasedCompensationRestrictedCommonSharesGranted_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ShareBasedCompensationRestrictedCommonSharesGranted_doc" xml:lang="en-US">Sahres of restricted common shares granted for the reporting period.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ShengdeHoldingMember" xlink:to="itp_ShengdeHoldingMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ShengdeHoldingMember_doc" xml:lang="en-US">Shengde Holding.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StatedCapitalLease" xlink:to="itp_StatedCapitalLease_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StatedCapitalLease_doc" xml:lang="en-US">Stated capital lease.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockWarrantsLineItems" xlink:to="itp_StockWarrantsLineItems_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StockWarrantsLineItems_doc" xml:lang="en-US">Stock warrants.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockWarrantsTable" xlink:to="itp_StockWarrantsTable_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StockWarrantsTable_doc" xml:lang="en-US">Stock warrants.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockWarrantsTextBlock" xlink:to="itp_StockWarrantsTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StockWarrantsTextBlock_doc" xml:lang="en-US">The entire disclosure for stock warrants.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockWarrantsTextualAbstract" xlink:to="itp_StockWarrantsTextualAbstract_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StockWarrantsTextualAbstract_doc" xml:lang="en-US">Stock Warrants textual.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SubsidyIncome" xlink:to="itp_SubsidyIncome_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SubsidyIncome_doc" xml:lang="en-US">Amount of benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SupplierOneMember" xlink:to="itp_SupplierOneMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SupplierOneMember_doc" xml:lang="en-US">Supplier One.</link:label>
      <link:loc xlink:type="locator" xlink:href="itp-20181231.xsd#itp_SupplierThreeMember" xlink:label="itp_SupplierThreeMember" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SupplierThreeMember" xlink:to="itp_SupplierThreeMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SupplierThreeMember_doc" xml:lang="en-US">Supplier three.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_SupplierTwoMember" xlink:to="itp_SupplierTwoMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_SupplierTwoMember_doc" xml:lang="en-US">Supplier two.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TotalCashEquivalentsAndRestrictedCash" xlink:to="itp_TotalCashEquivalentsAndRestrictedCash_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_TotalCashEquivalentsAndRestrictedCash_doc" xml:lang="en-US">Non cash total amount of cash, cash equivalents and restricted.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandElevenIncentiveStockPlanMember" xlink:to="itp_TwoThousandElevenIncentiveStockPlanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_TwoThousandElevenIncentiveStockPlanMember_doc" xml:lang="en-US">Two thousand eleven incentive stock plan.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandFifteenIncentiveStockPlanMember" xlink:to="itp_TwoThousandFifteenIncentiveStockPlanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_TwoThousandFifteenIncentiveStockPlanMember_doc" xml:lang="en-US">Two thousand fifteen incentive stock plan.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TwoThousandTwelveIncentiveStockPlanMember" xlink:to="itp_TwoThousandTwelveIncentiveStockPlanMember_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_TwoThousandTwelveIncentiveStockPlanMember_doc" xml:lang="en-US">Two thousand twelve incentive stock plan</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_UnrestrictedCommonShares" xlink:to="itp_UnrestrictedCommonShares_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_UnrestrictedCommonShares_doc" xml:lang="en-US">Unrestricted common shares.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_UnsecuredLoanExpirationDate" xlink:to="itp_UnsecuredLoanExpirationDate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_UnsecuredLoanExpirationDate_doc" xml:lang="en-US">Unsecured loan expiration date.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueAddedTaxesPayableCurrent" xlink:to="itp_ValueAddedTaxesPayableCurrent_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ValueAddedTaxesPayableCurrent_doc" xml:lang="en-US">Value added taxes payable, current.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing" xlink:to="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing_doc" xml:lang="en-US">Value of land use right pledged for sale leaseback financing.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WarrantsExercisableTerm" xlink:to="itp_WarrantsExercisableTerm_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_WarrantsExercisableTerm_doc" xml:lang="en-US">Warrants exercisable term.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WarrantsToPurchaseOfCommonStock" xlink:to="itp_WarrantsToPurchaseOfCommonStock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_WarrantsToPurchaseOfCommonStock_doc" xml:lang="en-US">Number of shares issued for warrant to purchase of common stock.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WeightedAverageNumberOfSharesOutstandingDilutedGross" xlink:to="itp_WeightedAverageNumberOfSharesOutstandingDilutedGross_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_WeightedAverageNumberOfSharesOutstandingDilutedGross_doc" xml:lang="en-US">Weighted average number of shares outstanding, diluted, Gross.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_WorkingCapitalDeficit" xlink:to="itp_WorkingCapitalDeficit_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_WorkingCapitalDeficit_doc" xml:lang="en-US">Amount of working capital.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian" xlink:to="itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian_doc" xml:lang="en-US">Value of shares of stock issued attributable to transactions classified as Issuance of shares to weitian.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian" xlink:to="itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian_doc" xml:lang="en-US">Number of shares of stock issued attributable to transactions classified as Issuance of shares to weitian.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_StatutoryReservesPolicyTextBlock" xlink:to="itp_StatutoryReservesPolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_StatutoryReservesPolicyTextBlock_doc" xml:lang="en-US">Disclosure of accounting policy for statutory reserves.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_BorrowingCostsPolicyTextBlock" xlink:to="itp_BorrowingCostsPolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_BorrowingCostsPolicyTextBlock_doc" xml:lang="en-US">Disclosure of accounting policy for Borrowing costs.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseObligationPolicyTextBlock" xlink:to="itp_LeaseObligationPolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LeaseObligationPolicyTextBlock_doc" xml:lang="en-US">The policy disclosure of lease obligation.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueAddedTaxPolicyTextBlock" xlink:to="itp_ValueAddedTaxPolicyTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ValueAddedTaxPolicyTextBlock_doc" xml:lang="en-US">Disclosure of accounting policy for Value Added Tax.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xlink:to="itp_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock_doc" xml:lang="en-US">Tabular disclosure of allowance for doubtful accounts.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ScheudleOfPropertyPlantAndEquipmentEstimatedUsefulLiveTableTextBlock" xlink:to="itp_ScheudleOfPropertyPlantAndEquipmentEstimatedUsefulLiveTableTextBlock_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ScheudleOfPropertyPlantAndEquipmentEstimatedUsefulLiveTableTextBlock_doc" xml:lang="en-US">Tabular disclosure of property plant and equipment useful lives.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AllowanceForDoubtfulAccountsExchangeDifference" xlink:to="itp_AllowanceForDoubtfulAccountsExchangeDifference_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_AllowanceForDoubtfulAccountsExchangeDifference_doc" xml:lang="en-US">Allowance for doubtful accounts exchange difference.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NetProfitTransferredToStatutoryReserveFund" xlink:to="itp_NetProfitTransferredToStatutoryReserveFund_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_NetProfitTransferredToStatutoryReserveFund_doc" xml:lang="en-US">Net profit transferred to statutory reserve fund.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_LeaseObligationsDescription" xlink:to="itp_LeaseObligationsDescription_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_LeaseObligationsDescription_doc" xml:lang="en-US">Description of lease obligations.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_ValueAddedTaxRate" xlink:to="itp_ValueAddedTaxRate_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_ValueAddedTaxRate_doc" xml:lang="en-US">It represents value added tax rate.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_AdvertisingAndPromotionCosts" xlink:to="itp_AdvertisingAndPromotionCosts_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_AdvertisingAndPromotionCosts_doc" xml:lang="en-US">The amount of advertising and promotion costs.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_TransfersOfReserveFund" xlink:to="itp_TransfersOfReserveFund_doc" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itp_TransfersOfReserveFund_doc" xml:lang="en-US">Transfers of reserve fund.</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfGoodsAndServicesSoldOverhead" xlink:to="us-gaap_CostOfGoodsAndServicesSoldOverhead_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfGoodsAndServicesSoldOverhead_2_lbl" xml:lang="en-US">Cost, Overhead</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_3_lbl" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesOutstanding_3_lbl" xml:lang="en-US">Shares, Outstanding</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnDispositionOfAssets1" xlink:to="us-gaap_GainLossOnDispositionOfAssets1_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnDispositionOfAssets1_2_lbl" xml:lang="en-US">Gain (Loss) on Disposition of Assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_2_lbl" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_2_lbl" xml:lang="en-US">Increase (Decrease) in Prepaid Expense and Other Assets</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInventories_2_lbl" xml:lang="en-US">Increase (Decrease) in Inventories</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayable" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayable_2_lbl" xml:lang="en-US">Increase (Decrease) in Accounts Payable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInNotesPayableCurrent" xlink:to="us-gaap_IncreaseDecreaseInNotesPayableCurrent_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInNotesPayableCurrent_2_lbl" xml:lang="en-US">Increase (Decrease) in Notes Payable, Current</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDueToRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInDueToRelatedParties_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedParties_2_lbl" xml:lang="en-US">Increase (Decrease) in Due to Related Parties</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_2_lbl" xml:lang="en-US">Increase (Decrease) in Employee Related Liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities_2_lbl" xml:lang="en-US">Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:to="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_2_lbl" xml:lang="en-US">Increase (Decrease) in Income Taxes Payable</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_2_lbl" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfBankDebt" xlink:to="us-gaap_RepaymentsOfBankDebt_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfBankDebt_2_lbl" xml:lang="en-US">Repayments of Bank Debt</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations" xlink:to="us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations_2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations_2_lbl" xml:lang="en-US">Repayments of Debt and Capital Lease Obligations</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_CashBankBalances" xlink:to="itp_CashBankBalances_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_CashBankBalances_3_lbl" xml:lang="en-US">Cash Bank Balances</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itp_NonCashRestrictedCash" xlink:to="itp_NonCashRestrictedCash_3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itp_NonCashRestrictedCash_3_lbl" xml:lang="en-US">Non Cash Restricted Cash</link:label>
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_2_lbl" xlink:type="arc" />
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<TYPE>EX-101.PRE
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885594640">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information - USD ($)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Mar. 07, 2019</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">0001358190<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-K<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Non-accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">true<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityExTransitionPeriod', window );">Entity Ex Transition Period</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityPublicFloat', window );">Entity Public Float</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,010,829<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,022,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityExTransitionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 7A<br> -Section B<br> -Subsection 2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityExTransitionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated), (5) Smaller Reporting Accelerated Filer or (6) Smaller Reporting Company and Large Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityPublicFloat</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if company meets the shell company criteria: a company with no or nominal operations, and with no or nominal assets or assets consisting solely of cash and cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a smaller reporting company with both a public float and revenues of less than $75 million.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_DocumentAndEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885279776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Consolidated Balance Sheets - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Cash', window );">Cash and bank balances</a></td>
<td class="nump">$ 8,474,809<span></span>
</td>
<td class="nump">$ 2,895,790<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">3,642,616<span></span>
</td>
<td class="nump">6,121,637<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNet', window );">Accounts receivable (net of allowance for doubtful accounts of $58,707 and $37,626 as of December 31, 2018 and December 2017, respectively)</a></td>
<td class="nump">2,876,632<span></span>
</td>
<td class="nump">1,843,682<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
<td class="nump">2,923,516<span></span>
</td>
<td class="nump">8,474,165<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepayments and other current assets</a></td>
<td class="nump">6,241,299<span></span>
</td>
<td class="nump">651,523<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">24,158,872<span></span>
</td>
<td class="nump">19,986,797<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant, and equipment, net</a></td>
<td class="nump">167,829,716<span></span>
</td>
<td class="nump">189,388,709<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValueAddedTaxReceivableNoncurrent', window );">Value-added tax recoverable</a></td>
<td class="nump">2,810,331<span></span>
</td>
<td class="nump">3,041,416<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent', window );">Deferred tax asset non-current</a></td>
<td class="nump">8,277,091<span></span>
</td>
<td class="nump">6,572,559<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">203,076,010<span></span>
</td>
<td class="nump">218,989,481<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank loans</a></td>
<td class="nump">11,802,075<span></span>
</td>
<td class="nump">7,192,923<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of long-term loans from credit union</a></td>
<td class="nump">2,491,549<span></span>
</td>
<td class="nump">6,366,502<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">629,054<span></span>
</td>
<td class="nump">422,705<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Notes payable</a></td>
<td class="nump">3,642,616<span></span>
</td>
<td class="nump">6,121,637<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">413,336<span></span>
</td>
<td class="nump">60,378<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued payroll and employee benefits</a></td>
<td class="nump">213,536<span></span>
</td>
<td class="nump">231,247<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccountsPayableAndAccruedLiabilities', window );">Other payables and accrued liabilities</a></td>
<td class="nump">10,222,796<span></span>
</td>
<td class="nump">836,337<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income taxes payable</a></td>
<td class="nump">219,305<span></span>
</td>
<td class="nump">525,804<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">29,634,267<span></span>
</td>
<td class="nump">21,757,533<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLoansPayableLongTerm', window );">Loans from credit union</a></td>
<td class="nump">4,706,259<span></span>
</td>
<td class="nump">1,193,719<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesNoncurrent', window );">Loans from a related party</a></td>
<td class="nump">2,185,569<span></span>
</td>
<td class="nump">10,712,865<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities (including amounts of the consolidated VIE without recourse to the Company of $34,008,908 and $31,235,520 as of December 31, 2018 and 2017, respectively)</a></td>
<td class="nump">36,526,095<span></span>
</td>
<td class="nump">33,664,117<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and Contingencies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, 500,000,000 shares authorized, $0.001 par value per share, 20,022,316 and 21,450,316 shares issued and outstanding as of December 31, 2018 and 2017, respectively</a></td>
<td class="nump">22,360<span></span>
</td>
<td class="nump">21,450<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
<td class="nump">51,137,319<span></span>
</td>
<td class="nump">50,635,243<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAppropriated', window );">Statutory earnings reserve</a></td>
<td class="nump">6,080,574<span></span>
</td>
<td class="nump">6,080,574<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive (loss) income</a></td>
<td class="num">(3,263,952)<span></span>
</td>
<td class="nump">5,468,799<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsUnappropriated', window );">Retained earnings</a></td>
<td class="nump">112,573,614<span></span>
</td>
<td class="nump">123,119,298<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
<td class="nump">166,549,915<span></span>
</td>
<td class="nump">185,325,364<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Stockholders' Equity</a></td>
<td class="nump">$ 203,076,010<span></span>
</td>
<td class="nump">$ 218,989,481<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(9))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedIncomeTaxesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(b)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedIncomeTaxesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=d3e637-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669686-108580<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=d3e681-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6801-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Cash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Cash</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82911808&amp;loc=d3e14326-108349<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31917-109318<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31931-109318<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Portion of the carrying amount as of the balance sheet date of obligations due all related parties that is payable after one year or beyond the normal operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeRelatedLiabilitiesCurrent</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=68049868&amp;loc=d3e3927-108312<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBankCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of current portion of long-term loans payable to bank due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBankCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities incurred and payable to vendors for goods and services received classified as other, and expenses incurred but not yet paid, payable within one year or the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLoansPayableLongTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term loans classified as other, payable after one year or the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLoansPayableLongTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAppropriated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A segregation of retained earnings which is unavailable for dividend distribution. Includes also retained earnings appropriated for loss contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=65888546&amp;loc=d3e21346-112643<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=65888546&amp;loc=d3e21332-112643<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(23)(a)(4)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-03(30)(a)(3)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAppropriated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsUnappropriated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A segregation of retained earnings which is available for dividend distribution. Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt. Unappropriated profit is part of shareholder equity. Also called cumulative distributions or earned surplus or accumulated earnings or unappropriated profit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3)(ii))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsUnappropriated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermBankLoansAndNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of borrowings from a bank classified as other, maturing within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermBankLoansAndNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValueAddedTaxReceivableNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount due after one year of the balance sheet date (or one operating cycle), if longer of value added taxes due either from customers arising from sales on credit terms, or as previously overpaid to tax authorities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValueAddedTaxReceivableNoncurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885619520">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>Statement of Financial Position [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for doubtful accounts</a></td>
<td class="nump">$ 58,707<span></span>
</td>
<td class="nump">$ 37,626<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities', window );">Consolidated VIE, liabilities</a></td>
<td class="nump">$ 34,008,908<span></span>
</td>
<td class="nump">$ 31,235,520<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">500,000,000<span></span>
</td>
<td class="nump">500,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">20,022,316<span></span>
</td>
<td class="nump">21,450,316<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
<td class="nump">20,022,316<span></span>
</td>
<td class="nump">21,450,316<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84173941&amp;loc=d3e5074-111524<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td>xbrli:sharesItemType</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfFinancialPositionAbstract</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of the consolidated Variable Interest Entity's liabilities included in the reporting entity's statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=108788376&amp;loc=d3e5710-111685<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885379264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Income and Comprehensive Income (Loss) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>Income Statement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 86,746,758<span></span>
</td>
<td class="nump">$ 117,023,578<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsAndServicesSoldOverhead', window );">Cost of sales</a></td>
<td class="num">(80,926,357)<span></span>
</td>
<td class="num">(97,067,627)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross Profit</a></td>
<td class="nump">5,820,401<span></span>
</td>
<td class="nump">19,955,951<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
<td class="num">(13,098,373)<span></span>
</td>
<td class="num">(11,307,395)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss from disposal of property, plant and equipment</a></td>
<td class="num">(9,881)<span></span>
</td>
<td class="num">(1,677,262)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Loss on impairment of assets</a></td>
<td class="num">(3,894,461)<span></span>
</td>
<td class="num">(2,291,027)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">(Loss) Income from Operations</a></td>
<td class="num">(11,182,314)<span></span>
</td>
<td class="nump">4,680,267<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other Income (Expense):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">36,632<span></span>
</td>
<td class="nump">34,590<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SubsidyIncome', window );">Subsidy income</a></td>
<td class="nump">241,189<span></span>
</td>
<td class="nump">41,529<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="num">(1,492,119)<span></span>
</td>
<td class="num">(2,433,770)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">(Loss) Income before Income Taxes</a></td>
<td class="num">(12,396,612)<span></span>
</td>
<td class="nump">2,322,616<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for Income Taxes</a></td>
<td class="nump">1,850,928<span></span>
</td>
<td class="num">(662,828)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net (Loss) Income</a></td>
<td class="num">(10,545,684)<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other Comprehensive (Loss) Income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustment</a></td>
<td class="num">(8,732,751)<span></span>
</td>
<td class="nump">10,910,190<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Total Comprehensive (Loss) Income</a></td>
<td class="num">$ (19,278,435)<span></span>
</td>
<td class="nump">$ 12,569,978<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract', window );"><strong>(Losses) Earnings Per Share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare', window );">Basic and Diluted (Losses) Earnings per Share</a></td>
<td class="num">$ (0.49)<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Outstanding - Basic and Diluted</a></td>
<td class="nump">21,618,305<span></span>
</td>
<td class="nump">21,450,316<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SubsidyIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SubsidyIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
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<tr>
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<td>us-gaap_</td>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=d3e557-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfGoodsAndServicesSoldOverhead">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indirect cost incurred related to good produced and service rendered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(b)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfGoodsAndServicesSoldOverhead</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDilutedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (210.5-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669646-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (b,c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109240241&amp;loc=d3e32211-110900<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=68048583&amp;loc=d3e3636-108311<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885342480">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Stockholders' Equity - USD ($)<br></strong></div></th>
<th class="th"><div>Common Stock</div></th>
<th class="th"><div>Additional Paid-In Capital</div></th>
<th class="th"><div>Statutory Earnings Reserve</div></th>
<th class="th"><div>Accumulated Other Comprehensive Income (loss)</div></th>
<th class="th"><div>Retained Earnings</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2016</a></td>
<td class="nump">$ 21,450<span></span>
</td>
<td class="nump">$ 50,635,243<span></span>
</td>
<td class="nump">$ 6,080,574<span></span>
</td>
<td class="num">$ (5,441,391)<span></span>
</td>
<td class="nump">$ 121,459,510<span></span>
</td>
<td class="nump">$ 172,755,386<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance, Shares at Dec. 31, 2016</a></td>
<td class="nump">21,450,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustment</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,910,190<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,910,190<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income loss for the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2017</a></td>
<td class="nump">$ 21,450<span></span>
</td>
<td class="nump">50,635,243<span></span>
</td>
<td class="nump">6,080,574<span></span>
</td>
<td class="nump">5,468,799<span></span>
</td>
<td class="nump">123,119,298<span></span>
</td>
<td class="nump">185,325,364<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance, Shares at Dec. 31, 2017</a></td>
<td class="nump">21,450,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueOther', window );">Issuance of shares to officer and directors</a></td>
<td class="nump">$ 535<span></span>
</td>
<td class="nump">469,826<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">470,361<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesOther', window );">Issuance of shares to officer and directors, shares</a></td>
<td class="nump">534,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian', window );">Issuance of shares to Weitian</a></td>
<td class="nump">$ 375<span></span>
</td>
<td class="nump">32,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,625<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian', window );">Issuance of shares to Weitian, shares</a></td>
<td class="nump">37,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax', window );">Foreign currency translation adjustment</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,732,751)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,732,751)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income loss for the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,545,684)<span></span>
</td>
<td class="num">(10,545,684)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Dec. 31, 2018</a></td>
<td class="nump">$ 22,360<span></span>
</td>
<td class="nump">$ 51,137,319<span></span>
</td>
<td class="nump">$ 6,080,574<span></span>
</td>
<td class="num">$ (3,263,952)<span></span>
</td>
<td class="nump">$ 112,573,614<span></span>
</td>
<td class="nump">$ 166,549,915<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Balance, Shares at Dec. 31, 2018</a></td>
<td class="nump">22,022,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued attributable to transactions classified as Issuance of shares to weitian.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_StockIssuedDuringPeriodIssuanceOfSharesToWeitian</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of shares of stock issued attributable to transactions classified as Issuance of shares to weitian.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_StockIssuedDuringPeriodIssuanceOfSharesValueToWeitian</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669646-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 45<br> -Paragraph 20<br> -Subparagraph (b,c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109240241&amp;loc=d3e32211-110900<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued which are neither cancelled nor held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued attributable to transactions classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of shares of stock issued attributable to transactions classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885492064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Flows from Operating Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="num">$ (10,545,684)<span></span>
</td>
<td class="nump">$ 1,659,788<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">14,290,919<span></span>
</td>
<td class="nump">14,633,780<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDispositionOfAssets1', window );">Loss from disposal and impairment of property, plant and equipment</a></td>
<td class="nump">4,524,581<span></span>
</td>
<td class="nump">3,968,289<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">(Recovery from) Allowance for bad debts</a></td>
<td class="nump">23,676<span></span>
</td>
<td class="num">(45,309)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based compensation expenses</a></td>
<td class="nump">470,361<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred tax</a></td>
<td class="num">(2,089,439)<span></span>
</td>
<td class="num">(3,010,577)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
<td class="num">(1,183,782)<span></span>
</td>
<td class="nump">2,265,428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepayments and other current assets</a></td>
<td class="num">(5,726,546)<span></span>
</td>
<td class="num">(79,264)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
<td class="nump">5,322,320<span></span>
</td>
<td class="num">(2,417,942)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Accounts payable</a></td>
<td class="nump">234,448<span></span>
</td>
<td class="num">(166,464)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_IncreaseDecreaseInAdvanceFromCustomers', window );">Advance from customers</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(29,663)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInNotesPayableCurrent', window );">Notes payable</a></td>
<td class="num">(2,261,147)<span></span>
</td>
<td class="nump">3,707,933<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueToRelatedParties', window );">Due to related parties</a></td>
<td class="nump">150,743<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities', window );">Accrued payroll and employee benefits</a></td>
<td class="num">(6,855)<span></span>
</td>
<td class="nump">8,111<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities', window );">Other payables and accrued liabilities</a></td>
<td class="nump">6,878,137<span></span>
</td>
<td class="num">(1,503,275)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income taxes payable</a></td>
<td class="num">(291,119)<span></span>
</td>
<td class="num">(839,047)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net Cash Provided by Operating Activities</a></td>
<td class="nump">9,790,613<span></span>
</td>
<td class="nump">18,151,788<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash Flows from Investing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of property, plant and equipment</a></td>
<td class="num">(2,198,852)<span></span>
</td>
<td class="num">(9,380,702)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Proceeds from sale of property, plant and equipment</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">59,066<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net Cash Used in Investing Activities</a></td>
<td class="num">(2,198,852)<span></span>
</td>
<td class="num">(9,321,636)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flows from Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRelatedPartyDebt', window );">Proceeds from related party loans</a></td>
<td class="nump">4,522,295<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfRelatedPartyDebt', window );">Repayments of related party loans</a></td>
<td class="num">(12,813,169)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromBankDebt', window );">Proceeds from short term bank loans</a></td>
<td class="nump">12,210,196<span></span>
</td>
<td class="nump">12,903,609<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfBankDebt', window );">Repayment of bank loans</a></td>
<td class="num">(12,149,899)<span></span>
</td>
<td class="num">(11,153,463)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ProceedsFromRuralCreditUnionLoans', window );">Proceeds from credit union loans</a></td>
<td class="nump">5,064,970<span></span>
</td>
<td class="nump">2,373,077<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations', window );">Payment of capital lease obligation</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(9,040,260)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net Cash Used in Financing Activities</a></td>
<td class="num">(3,165,607)<span></span>
</td>
<td class="num">(4,917,037)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents', window );">Effect of Exchange Rate Changes on Cash and Cash Equivalents</a></td>
<td class="num">(1,326,156)<span></span>
</td>
<td class="nump">609,348<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net Increase (Decrease) in Cash and Cash Equivalents</a></td>
<td class="nump">3,099,998<span></span>
</td>
<td class="nump">4,522,463<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, Cash Equivalents and Restricted Cash - Beginning of Year</a></td>
<td class="nump">9,017,427<span></span>
</td>
<td class="nump">4,494,964<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, Cash Equivalents and Restricted Cash - End of Year</a></td>
<td class="nump">12,117,425<span></span>
</td>
<td class="nump">9,017,427<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental Disclosure of Cash Flow Information:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash paid for interest, net of capitalized interest cost</a></td>
<td class="nump">1,866,093<span></span>
</td>
<td class="nump">1,359,343<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Cash paid for income taxes</a></td>
<td class="nump">515,001<span></span>
</td>
<td class="nump">3,247,406<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CashBankBalances', window );">Cash and bank balances</a></td>
<td class="nump">8,474,809<span></span>
</td>
<td class="nump">2,895,790<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NonCashRestrictedCash', window );">Restricted cash</a></td>
<td class="nump">3,642,616<span></span>
</td>
<td class="nump">6,121,637<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_TotalCashEquivalentsAndRestrictedCash', window );">Total cash, cash equivalents and restricted cash shown in the statement of cash flows</a></td>
<td class="nump">$ 12,117,425<span></span>
</td>
<td class="nump">$ 9,017,427<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_CashBankBalances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash bank balance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_CashBankBalances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_IncreaseDecreaseInAdvanceFromCustomers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of advance from customers for the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_IncreaseDecreaseInAdvanceFromCustomers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_NonCashRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non cash restricted cash.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NonCashRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ProceedsFromRuralCreditUnionLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from credit rural union loans during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ProceedsFromRuralCreditUnionLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_TotalCashEquivalentsAndRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non cash total amount of cash, cash equivalents and restricted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_TotalCashEquivalentsAndRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=98513438&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDispositionOfAssets1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDispositionOfAssets1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in accrued expenses, and obligations classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families; affiliates; or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInNotesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in current portion (due within one year or one business cycle) of obligations evidenced by formal promissory notes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInNotesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in prepaid expenses, and assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4297-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3367-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromBankDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from bank borrowing during the year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromBankDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRelatedPartyDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876572032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business Background<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock', window );">Organization and Business Background</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(1)
Organization and Business Background</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">IT
Tech Packaging, Inc. (the Company) was incorporated in the State of Nevada on December 9, 2005, under the name &#8220;Carlateral,
Inc.&#8221; Through the steps described immediately below, we became the holding company for Hebei Baoding Dongfang Paper Milling
Company Limited (&#8220;Dongfang Paper&#8221;), a producer and distributor of paper products in China, on October 29, 2007, and
effective December 21, 2007, we changed our name to &#8220;Orient Paper, Inc.&#8221;.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Effective
on August 1, 2018, we changed our corporate name to IT Tech Packaging, Inc.. The name change was effected through a parent/subsidiary
short-form merger of IT Tech Packaging, Inc., our wholly-owned Nevada subsidiary formed solely for the purpose of the name change,
with and into us. We were the surviving entity. In connection with the name change, our common stock began being traded under
a new NYSE symbol, &#8220;ITP,&#8221; and a new CUSIP number, 46527C100, at such time.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
October 29, 2007, pursuant to an agreement and plan of merger (the &#8220;Merger Agreement&#8221;), the Company acquired Dongfang
Zhiye Holding Limited (&#8220;Dongfang Holding&#8221;), a corporation formed on November 13, 2006 under the laws of the British
Virgin Islands, and issued the shareholders of Dongfang Holding an aggregate of 7,450,497 (as adjusted for a four-for-one reverse
stock split effected in November 2009) shares of our common stock, which shares were distributed pro-rata to the shareholders
of Dongfang Holding in accordance with their respective ownership interests in Dongfang Holding. At the time of the Merger Agreement,
Dongfang Holding owned all of the issued and outstanding stock and ownership of Dongfang Paper and such shares of Dongfang Paper
were held in trust with Zhenyong Liu, Xiaodong Liu and Shuangxi Zhao, for Mr. Liu, Mr. Liu and Mr. Zhao (the original shareholders
of Dongfang Paper) to exercise control over the disposition of Dongfang Holding&#8217;s shares in Dongfang Paper on Dongfang Holding&#8217;s
behalf until Dongfang Holding successfully completed the change in registration of Dongfang Paper&#8217;s capital with the relevant
PRC Administration of Industry and Commerce as the 100% owner of Dongfang Paper&#8217;s shares. As a result of the merger transaction,
Dongfang Holding became a wholly owned subsidiary of the Company, and Dongfang Holding&#8217;s wholly owned subsidiary, Dongfang
Paper, became an indirectly owned subsidiary of the Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Dongfang
Holding, as the 100% owner of Dongfang Paper, was unable to complete the registration of Dongfang Paper&#8217;s capital under
its name within the proper time limits set forth under PRC law. In connection with the consummation of the restructuring transactions
described below, Dongfang Holding directed the trustees to return the shares of Dongfang Paper to their original shareholders,
and the original Dongfang Paper shareholders entered into certain agreements with Baoding Shengde Paper Co., Ltd. (&#8220;Baoding
Shengde&#8221;) to transfer the control of Dongfang Paper over to Baoding Shengde.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
June 24, 2009, the Company consummated a number of restructuring transactions pursuant to which it acquired all of the issued
and outstanding shares of Shengde Holdings Inc, a Nevada corporation. Shengde Holdings Inc was incorporated in the State of Nevada
on February 25, 2009. On June 1, 2009, Shengde Holdings Inc incorporated Baoding Shengde, a limited liability company organized
under the laws of the PRC. Because Baoding Shengde is a wholly-owned subsidiary of Shengde Holdings Inc, it is regarded as a wholly
foreign-owned entity under PRC law.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">To
ensure proper compliance of the Company&#8217;s control over the ownership and operations of Dongfang Paper with certain PRC regulations,
on June&#160;24, 2009, the Company entered into a series of contractual agreements (the &#8220;Contractual Agreements&#8221;)
with Dongfang Paper and Dongfang Paper Equity Owners via the Company&#8217;s wholly owned subsidiary Shengde Holdings Inc (&#8220;Shengde
Holdings&#8221;) a Nevada corporation and Baoding Shengde Paper Co., Ltd. (&#8220;Baoding Shengde&#8221;), a wholly foreign-owned
enterprise in the PRC with an original registered capital of $10,000,000 (subsequently increased to $60,000,000 in June 2010).
Baoding Shengde is mainly engaged in production and distribution of digital photo paper and is 100% owned by Shengde Holdings.
Prior to February 10, 2010, the Contractual Agreements included (i) Exclusive Technical Service and Business Consulting Agreement,
which generally provides that Baoding Shengde shall provide exclusive technical, business and management consulting services to
Dongfang Paper, in exchange for service fees including a fee equivalent to 80% of Dongfang Paper&#8217;s total annual net profits;
(ii) Loan Agreement, which provides that Baoding Shengde will make a loan in the aggregate principal amount of $10,000,000 to
Dongfang Paper Equity Owners in exchange for each such shareholder agreeing to contribute all of its proceeds from the loan to
the registered capital of Dongfang Paper; (iii) Call Option Agreement, which generally provides, among other things, that Dongfang
Paper Equity Owners irrevocably grant to Baoding Shengde an option to purchase all or part of each owner&#8217;s equity interest
in Dongfang Paper. The exercise price for the options shall be RMB1 which Baoding Shengde should pay to each of Dongfang Paper
Equity Owner for all their equity interests in Dongfang Paper; (iv) Share Pledge Agreement, which provides that Dongfang Paper
Equity Owners will pledge all of their equity interests in Dongfang Paper to Baoding Shengde as security for their obligations
under the other agreements described in this section. Specifically, Baoding Shengde is entitled to dispose of the pledged equity
interests in the event that Dongfang Paper Equity Owners breach their obligations under the Loan Agreement or Dongfang Paper fails
to pay the service fees to Baoding Shengde pursuant to the Exclusive Technical Service and Business Consulting Agreement; and
(v) Proxy Agreement, which provides that Dongfang Paper Equity Owners shall irrevocably entrust a designee of Baoding Shengde
with such shareholder&#8217;s voting rights and the right to represent such shareholder to exercise such owner&#8217;s rights
at any equity owners&#8217; meeting of Dongfang Paper or with respect to any equity owner action to be taken in accordance with
the laws and Dongfang Paper&#8217;s Articles of Association. The terms of the agreement are binding on the parties for as long
as Dongfang Paper Equity Owners continue to hold any equity interest in Dongfang Paper. A Dongfang Paper Equity Owner will cease
to be a party to the agreement once it transfers its equity interests with the prior approval of Baoding Shengde. As the Company
had controlled Dongfang Paper since July 16, 2007 through Dongfang Holding and the trust until June 24, 2009, and continues to
control Dongfang Paper through Baoding Shengde and the Contractual Agreements, the execution of the Contractual Agreements is
considered as a business combination under common control.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
February 10, 2010, Baoding Shengde and the Dongfang Paper Equity Owners entered into a Termination of Loan Agreement to terminate
the above-mentioned $10,000,000 Loan Agreement. Because of the Company&#8217;s decision to fund future business expansions through
Baoding Shengde instead of Dongfang Paper, the $10,000,000 loan contemplated was never made prior to the point of termination.
The parties believe the termination of the Loan Agreement does not in itself compromise the effective control of the Company over
Dongfang Paper and its businesses in the PRC.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">An
agreement was also entered into among Baoding Shengde, Dongfang Paper and the Dongfang Paper Equity Owners on December 31, 2010,
reiterating that Baoding Shengde is entitled to 100% of the distributable profit of Dongfang Paper, pursuant to the above mentioned
Contractual Agreements. In addition, Dongfang Paper and the Dongfang Paper Equity Owners shall not declare any of Dongfang Paper&#8217;s
unappropriated earnings as dividend, including the unappropriated earnings of Dongfang Paper from its establishment to 2010 and
thereafter.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company has no direct equity interest in Dongfang Paper. However, through the Contractual Agreements described above, the Company
is found to be the primary beneficiary (the &#8220;Primary Beneficiary&#8221;) of Dongfang Paper and is deemed to have the effective
control over Dongfang Paper&#8217;s activities that most significantly affect its economic performance, resulting in Dongfang
Paper being treated as a controlled variable interest entity of the Company in accordance with Topic 810 - Consolidation of the
Accounting Standards Codification (the &#8220;ASC&#8221;) issued by the Financial Accounting Standard Board (the &#8220;FASB&#8221;).
The revenue generated from Dongfang Paper for the years ended December 31, 2018 and 2017 was accounted for 99.98% and 100% of
the Company&#8217;s total revenue, respectively. Dongfang Paper also accounted for 90.60% and 87.96% of the total assets of the
Company as of December 31, 2018 and 2017, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, details of the Company&#8217;s subsidiaries and variable interest entity are as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif"><b>Date
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><font style="font-family: Times New Roman, Times, Serif"><b>Name</b></font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 26%; font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><font style="font-family: Times New Roman, Times, Serif">Dongfang
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    <td style="width: 5%; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 25%; font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">Inactive
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><font style="font-family: Times New Roman, Times, Serif">Shengde
    Holdings</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">February
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">State
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">100</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">%</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">Investment
    holding</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><font style="font-family: Times New Roman, Times, Serif">Baoding
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">June
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">PRC</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">100</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">%</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">Paper&#160;production&#160;and&#160;distribution</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><font style="font-family: Times New Roman, Times, Serif"><i>Variable
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><font style="font-family: Times New Roman, Times, Serif">Dongfang
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">March
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">PRC</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">Paper
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif">
<td style="width: 0; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">*</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Dongfang
                                         Paper is treated as a 100% controlled variable interest entity of the Company.</font></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">However,
uncertainties in the PRC legal system could cause the Company&#8217;s current ownership structure to be found to be in violation
of any existing and/or future PRC laws or regulations and could limit the Company&#8217;s ability, through its subsidiary, to
enforce its rights under these contractual arrangements. Furthermore, shareholders of the VIE may have interests that are different
than those of the Company, which could potentially increase the risk that they would seek to act contrary to the terms of the
aforementioned agreements.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In
addition, if the current structure or any of the contractual arrangements were found to be in violation of any existing or future
PRC law, the Company may be subject to penalties, which may include, but not be limited to, the cancellation or revocation of
the Company&#8217;s business and operating licenses, being required to restructure the Company&#8217;s operations or being required
to discontinue the Company&#8217;s operating activities. The imposition of any of these or other penalties may result in a material
and adverse effect on the Company&#8217;s ability to conduct its operations. In such case, the Company may not be able to operate
or control the VIE, which may result in deconsolidation of the VIE. The Company believes the possibility that it will no longer
be able to control and consolidate its VIE will occur as a result of the aforementioned risks and uncertainties is remote.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company has aggregated the financial information of Dongfang Paper in the table below. The aggregate carrying value of Dongfang
Paper&#8217;s assets and liabilities (after elimination of intercompany transactions and balances) in the Company&#8217;s consolidated
balance sheets as of December 31, 2018 and 2017 are as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-weight: bold; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">December
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    <td colspan="2" style="font-weight: bold; text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">December
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">ASSETS</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Current
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Cash
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    <td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">8,328,980</font></td><td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2,681,942</font></td><td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Restricted
    cash</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">6,121,637</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Accounts
    receivable</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2,876,632</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">1,843,682</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Inventories</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">8,431,972</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Prepayments
    and other current assets</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">6,219,395</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">646,598</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total
    current assets</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">23,973,627</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">19,725,831</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Property,
    plant, and equipment, net</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">153,302,061</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">167,727,768</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Deferred
    tax asset non-current</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">6,711,412</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">5,167,288</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total
    Assets</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">183,987,100</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">192,620,887</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">LIABILITIES</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Current
    Liabilities</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Short-term
    bank loans</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">11,802,075</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">7,192,923</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Current
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">5,142,175</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Accounts
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">10,712,865</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company and its consolidated subsidiaries are not required to provide financial support to the VIE, and no creditor (or beneficial
interest holders) of the VIE have recourse to the assets of Company unless the Company separately agrees to be subject to such
claims. There are no terms in any agreements or arrangements, implicit or explicit, which require the Company or its subsidiaries
to provide financial support to the VIE. However, if the VIE does require financial support, the Company or its subsidiaries may,
at its option and subject to statutory limits and restrictions, provide financial support to the VIE.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -URI http://asc.fasb.org/topic&amp;trid=2122149<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -URI http://asc.fasb.org/topic&amp;trid=2197479<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779881376">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock', window );">Basis of Presentation and Significant Accounting Policies</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>(2) Basis of Presentation and Significant
Accounting Policies</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Basis of Consolidation</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 34.1pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements of the
Company are prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;US GAAP&#8221;),
and include the assets, liabilities, revenues, expenses and cash flows of all subsidiaries and variable interest entity. All significant
inter-company balances, transactions and cash flows are eliminated on consolidation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Liquidity and Going Concern</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018 the Company had current
assets of $24,158,872 and current liabilities of $29,634,267 (including amounts due to related parties of $413,336 and interest
payable for related party loans of $617,454), resulting in a working capital deficit of approximately $5,475,395; as of December
31, 2017, the Company had current assets of $19,986,797 and current liabilities of $21,757,533 (including amounts due to related
parties of $60,378), resulting in a working capital deficit of approximately $1,770,736. In late January, 2018, the Company temporarily
suspended its production due to a government-mandated restriction on the natural gas supply. The Company resumed production on
March 14, 2018. As a result, the Company incurred a net loss of $4.0 million in the first quarter of 2018. As the production resumed,
the net cash generated from operations for the nine months from April 2018 to December 2018 was $14 million (cash-in) as compared
to the net cash-out of $4.8 million in the first quarter of 2018. The management expects that there will be sufficient and continuous
cash-in from sales in the first half of year 2019 and the working capital condition will be further improved.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 6in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Foreign Currency Translation</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

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pursuant to ASC Topic 830,<i>&#160;Foreign Currency Matters</i>. The functional currency of Dongfang Paper and Baoding Shengde
is the Chinese Yuan Renminbi (&#8220;RMB&#8221;). Monetary assets and liabilities denominated in currencies other than RMB are
translated into RMB at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than RMB are converted
into RMB at the applicable rates of exchange prevailing the transactions occurred. Transaction gains and losses are recognized
in the consolidated statements of income. The functional currency of IT Tech Packaging and Shengde Holdings is United States dollars.
Monetary assets and liabilities denominated in currencies other than United States dollars are translated into United States dollars
at the rates of exchange ruling at the balance sheet date. Translation in currencies other than United States dollars are converted
into United States dollars at the applicable rates of exchange prevailing when the transactions occurred. Transaction gains or
losses are recognized in the consolidated statement of income.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC Topic 830-30, all assets and liabilities
are translated into United States dollars using the current exchange rate at the end of each fiscal period. The current exchange
rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1,
respectively. Revenues and expenses are translated using the average exchange rates prevailing throughout the respective years
at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively. Translation adjustments are included in
other comprehensive income (loss).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Use of Estimates</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of consolidated financial statements
in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities as of December 31, 2018 and 2017, and revenues and expenses for the years ended December 31, 2018 and 2017. The most
significant estimates relate to allowance for uncollectible accounts receivable, inventory valuation, useful lives and impairment
for property, plant and equipment, valuation allowance for deferred tax assets and contingencies. Actual results could differ from
those estimates made by management.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Trade accounts receivable are recorded on shipment
of products to customers. The trade receivables are all without customer collateral and interest is not accrued on past due accounts.
Periodically, management reviews the adequacy of its provision for doubtful accounts based on historical bad debt expense results
and current economic conditions using factors based on the aging of its accounts receivable. Additionally, the Company may identify
additional allowance requirements based on indications that a specific customer may be experiencing financial difficulties. Actual
bad debt results could differ materially from these estimates. As of December 31, 2018 and 2017, the balance of allowance for doubtful
accounts was $58,707 and $37,626, respectively; and the movement of the provision of the doubtful accounts is as below. While management
uses the best information available upon which to base estimates, future adjustments to the allowance may be necessary if economic
conditions differ substantially from the assumptions used for the purposes of analysis.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: white">
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Inventories</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventories consist principally of raw materials
and finished goods, and are stated at the lower of cost (average cost method) or market. Cost includes labor, raw materials, and
allocated overhead. No provision in inventories has been provided for the years ended December 31, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Property, Plant, and Equipment</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property, plant, and equipment are stated at
cost less accumulated depreciation and any impairment losses. Major renewals, betterments, and improvements are capitalized to
the asset accounts while replacements, maintenance, and repairs, which do not improve or extend the lives of the respective assets,
are expensed to operations. At the time property, plant, and equipment are retired or otherwise disposed of, the asset and related
accumulated depreciation or amortization accounts are relieved of the applicable amounts. Gains or losses from retirements or sales
are credited or charged to operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Construction-in-progress is stated at cost
and capitalized as expenses are incurred or as payments are made pursuant to relevant construction contracts. Contract retention
is recorded as accrued liability. Construction in progress is not depreciated until project completion and the constructed property
being placed in service, at which time the capitalized balance will be transferred to appropriate account of property, plant and
equipment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company depreciates property, plant, and
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="width: 50%; padding-left: 12.1pt; text-indent: -12.1pt"><font style="font-size: 10pt">Land use right</font></td>
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<tr style="vertical-align: bottom; background-color: white">
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<tr style="vertical-align: bottom; background-color: #CCEEFF">
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<tr style="vertical-align: bottom; background-color: white">
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Valuation of long-lived asset</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company reviews the carrying value of long-lived
assets to be held and used when events and circumstances warrants such a review. The carrying value of a long-lived asset is considered
impaired when the anticipated undiscounted cash flow from such asset is separately identifiable and is less than its carrying value.
In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair market value of the long-lived
asset and intangible assets. Fair market value is determined primarily using the anticipated cash flows discounted at a rate commensurate
with the risk involved. Losses on long-lived assets and intangible assets to be disposed are determined in a similar manner, except
that fair market values are reduced for the cost to dispose.</p>

<p style="margin: 0">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Statutory Reserves</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">According to the laws and regulations in the
PRC, the Company is required to provide for certain statutory funds, namely, a reserve fund by an appropriation from net profit
after taxation but before dividend distribution based on the local statutory financial statements of the PRC subsidiary and variable
interest entity prepared in accordance with the PRC accounting principles and relevant financial regulations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each of the Company&#8217;s wholly owned subsidiary
and variable interest entity in the PRC are required to allocate at least 10% of its net profit to the reserve fund until the balance
of such fund has reached 50% of its registered capital. Appropriations of additional reserve fund are determined at the discretion
of its directors. The reserve fund can only be used, upon approval by the relevant authority, to offset accumulated losses or increase
capital.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the years ended December 31, 2018 and 2017,
IT Tech Packaging made transfers of $nil to this reserve fund. As a result of net loss in fiscal year 2018 and 2017 of Baoding
Shengde, no statutory reserves were provided for the year ended December 31, 2018 and 2017. The Company&#8217;s variable interest
entity Dongfang Paper, the statutory reserve account of which has been fully funded for 50% of its registered capital in the amount
of RMB 75,030,000 (or approximately $11,811,470) since December 31, 2010, did not make any transfer to statutory reserves during
the years ended December 31, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Employee Benefit Plan</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Full time employees of the PRC entities participate
in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment
insurance and other welfare benefits are provided to employees. The total provision for such employee benefits was $nil for the
years ended December 31, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Revenue Recognition Policy</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognizes revenue when goods are
delivered, when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant
obligations of the Company exist, and collectability is reasonably assured. Goods are considered delivered when customer&#8217;s
truck picks up goods at our finished goods inventory warehouse.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Shipping Cost</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Substantially all customers use their own trucks
or hire commercial trucking companies to pick up goods from the Company. The Company usually incurs no shipping cost for delivery
of goods to customers. For those rare situations where products are not shipped utilizing customer specified shipping services,
the Company charges customers a shipping fee which is included in net revenues and was not material. Freight-in and handling costs
incurred by the Company with respect to purchased goods are recorded as a component of inventory cost and charged to cost of sales
when the inventory items are sold.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Advertising</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company expenses all advertising and promotion
costs as incurred. The Company incurred $nil of advertising and promotion costs for the years ended December 31, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Research and development costs</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Research and development costs are expensed
as incurred and included in selling, general and administrative expenses. Research and development expenses incurred $30,194 and
$31,922 for the years ended December 31, 2018 and 2017, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Borrowing costs</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Borrowing costs attributable directly to the
acquisition, construction or production of qualifying assets which require a substantial period of time to be ready for their intended
use or sale, are capitalized as part of the cost of those assets. Income earned on temporary investments of specific borrowings
pending their expenditure on those assets is deducted from borrowing costs capitalized. All other borrowing costs are recognized
in interest expenses in the period in which they are incurred.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Government subsidies</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A government subsidy is not recognized until
there is reasonable assurance that: (a) the enterprise will comply with the conditions attached to the grant; and (b) the grant
will be received. When the Company received the government subsidies but the conditions attached to the grants have not been fulfilled,
such government subsidies are deferred and recorded under other payables and accrued expenses, and other long-term liability. The
classification of short-term or long-term liabilities is depended on the management&#8217;s expectation of when the conditions
attached to the grant can be fulfilled. For the years ended December 31, 2018 and 2017, the Company received government subsidies
of $241,189 and $41,529, which are recognized as subsidy income in the consolidated statements of income in that fiscal year.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Lease Obligations</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All non-cancellable leases with an initial
term greater than one year are categorized as either capital or operating leases. For the lessee, a lease is a capital lease if
any of the following conditions exist: a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain
purchase option, c) the lease term is at least 75% of the property&#8217;s estimated remaining economic life or d) the present
value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property
to the lessor at the inception date. A capital lease is accounted for as if there was an acquisition of an asset and an incurrence
of an obligation at the inception of the lease. All other leases are accounted for as operating leases. Assets recorded under capital
leases are amortized according to the same depreciation methods employed for property, plant and equipment or over the term of
the related lease, if shorter.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company defers any profit or loss from
a sale-leaseback transaction unless any of the following conditions exist: a) the seller-lessee relinquishes the right to substantially
all of the remaining use of the property sold retaining only a minor portion of such use; b) the seller-lessee retains more than
a minor part but less than substantially all of the use of the property through the leaseback and realizes a profit on the sale
in excess of the recorded amount of the leased assets; or c) the fair value of the property at the time of the transaction is less
than its undepreciated cost, in which circumstance a loss shall be recognized immediately.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 31.9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Income Taxes</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for income taxes pursuant
to ASC Topic 740, Income Taxes. Income taxes are provided on an asset and liability approach for financial accounting and reporting
of income taxes. Any tax paid by subsidiaries during the year is recorded. Current tax is based on the profit or loss from ordinary
activities adjusted for items that are non-assessable or disallowable for income tax purpose and is calculated using tax rates
that have been enacted or substantively enacted at the balance sheet date. ASC Topic 740 also requires the recognition of deferred
tax assets and liabilities for both the expected impact of differences between the financial statements and the tax basis of assets
and liabilities, and for the expected future tax benefit to be derived from tax losses and tax credit carry-forwards. ASC Topic
740 additionally requires the establishment of a valuation allowance to reflect the likelihood of realization of deferred tax assets.
Realization of deferred tax assets, including those related to the U.S. net operating loss carry-forwards, are dependent upon future
earnings, if any, of which the timing and amount are uncertain.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company adopted ASC Topic 740-10-05,<i>&#160;Income
Tax</i>, which provides guidance for recognizing and measuring uncertain tax positions, it prescribes a threshold condition that
a tax position must meet for any of the benefits of the uncertain tax position to be recognized in the financial statements. It
also provides accounting guidance on derecognizing, classification and disclosure of these uncertain tax positions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s policy on classification
of all interest and penalties related to unrecognized income tax positions, if any, is to present them as a component of income
tax expense.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Value Added Tax</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Both the PRC subsidiary and variable interest
entity of the Company are subject to value added tax (&#8220;VAT&#8221;) imposed by the PRC government on its purchase and sales
of goods. The output VAT is charged to customers who purchase goods from the Company and the input VAT is paid when the Company
purchases goods from its vendors. VAT rate is 16% in general, depending on the types of products purchased and sold. The input
VAT can be offset against the output VAT. Debit balance of VAT payable represents a credit against future collection of output
VAT instead of a receivable due from government.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Comprehensive Income (Loss)</i></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company presents comprehensive income (loss)
in accordance with ASC Topic 220,<i>&#160;Comprehensive Income</i>. ASC Topic 220 states that all items that are required to be
recognized under accounting standards as components of comprehensive income (loss) be reported in the consolidated financial statements.
The components of comprehensive income (loss) were the net income for the years and the foreign currency translation adjustments.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 31.9pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Earnings Per Share</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic earnings per share is computed by dividing
the net income attributable to the common stockholders by the weighted average number of shares of common stock outstanding during
the period. Diluted earnings per share is computed similar to basic earnings per share except that the denominator is increased
to include the number of additional common shares that would have been outstanding if the potential common shares had been issued
and if the additional common shares were dilutive.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Share-Based Compensation</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses the fair value recognition
provision of ASC Topic 718,<i>&#160;Compensation-Stock Compensation,</i>&#160;which requires the Company to expense the cost of
employee services received in exchange for an award of equity instruments based on the grant date fair value of such instruments
over the vesting period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also applies the provisions of
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to non-employees for services. Such awards for services are recorded at either the fair value of the consideration received or
the fair value of the instruments issued in exchange for such services, whichever is more reliably measurable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><i>Fair Value Measurements</i></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has adopted ASC Topic 820, Fair
Value Measurements and Disclosures, which defines fair value, establishes a framework for measuring fair value in GAAP, and expands
disclosures about fair value measurements. It does not require any new fair value measurements, but provides guidance on how to
measure fair value by providing a fair value hierarchy used to classify the source of the information. It establishes a three-level
valuation hierarchy of valuation techniques based on observable and unobservable inputs, which may be used to measure fair value
and include the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.4pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1 - Quoted prices in active markets for
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.4pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2 - Inputs other than Level 1 that are
observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that
are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full
term of the assets or liabilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 48.4pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3 - Unobservable inputs that are supported
by little or no market activity and that are significant to the fair value of the assets or liabilities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 46.2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Classification within the hierarchy is determined
based on the lowest level of input that is significant to the fair value measurement.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company estimates the fair value of financial
instruments using the available market information and valuation methods. Considerable judgment is required in estimating fair
value. Accordingly, the estimates of fair value may not be indicative of the amounts that the Company could realize in a current
market exchange. As of December 31, 2018 and 2017, the carrying value of the Company&#8217;s short term financial instruments,
such as cash and bank balances, accounts receivable, accounts and notes payable, short-term bank loans and balance due to related
parties, approximate at their fair values because of the short maturity of these instruments; while loans from credit union, loans
from a related party and obligation under capital lease approximate at their fair value as the interest rates thereon are close
to the market rates of interest published by the People&#8217;s Bank of China.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company does not have any assets and liabilities measured at
fair value on a recurring basis as of December 31, 2018 and 2017.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Non-Recurring Fair Value Measurements</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 62.7pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company reviews long-lived assets for
impairment annually or more frequently if events or changes in circumstances indicate the possibility of impairment. For the continuing
operations, long-lived assets are measured at fair value on a nonrecurring basis when there is an indicator of impairment, and
they are recorded at fair value only when impairment is recognized. For discontinued operations, long-lived assets are measured
at the lower of carrying amount or fair value less cost to sell. The fair value of these assets were determined using models with
significant unobservable inputs which were classified as Level 3 inputs, primarily the discounted future cash flow.</p><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restricted Cash<br></strong></div></th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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the bank acceptance notes from these banks. The restriction has been lifted upon the maturity of the notes payable on January
5, 2018.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for cash and cash equivalent footnotes,  which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6776802688">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories<br></strong></div></th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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paper and offset printing paper.&#160;Inventories consisted of the following as of and December 31, 2018 and 2017:&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876596512">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Prepayments and Other Current Assets<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PrepaidExpensesAndOtherCurrentAssetsDisclosureTextBlock', window );">Prepayments and other current assets</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(5)
Prepayments and other current assets</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Prepayments
and other current assets consisted of the following as of December 31, 2018 and 2017:&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6777550384">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, Plant and Equipment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Property, plant and equipment</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>(6) Property, plant and equipment</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018 and 2017, property,
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 34.1pt">&#160;</p>

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    <td>&#160;</td>
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    <td style="width: 1%"><font style="font-size: 10pt">$</font></td>
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    <td style="width: 1%">&#160;</td>
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    <td>&#160;</td>
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    <td style="text-align: right"><font style="font-size: 10pt">147,383,943</font></td>
    <td>&#160;</td>
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    <td style="text-align: right"><font style="font-size: 10pt">593,265</font></td>
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    <td>&#160;</td>
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    <td style="text-align: right"><font style="font-size: 10pt">266,687,858</font></td>
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    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(91,165,671</font></td>
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    <td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 10pt">(77,299,149</font></td>
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    <td style="padding-bottom: 4pt"><font style="font-size: 10pt">Property, Plant and Equipment, net</font></td>
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    <td style="border-bottom: black 4.5pt double; text-align: right"><font style="font-size: 10pt">167,829,716</font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 34.1pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018 and December 31, 2017,
land use rights represented two parcel of state-owned lands located in Xushui District of Hebei Province in China, with lease terms
of 50 years expiring from 2061 to 2066.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Construction in progress as of December 31,
2017 mainly represents payments for the new 15,000 tonnes per year tissue paper manufacturing equipment PM8, the tissue paper workshops
and general infrastructure and administrative facilities in the Wei County Industrial Park. In December 2018, the Company announced
commercial launch of PM8 and the related cost of construction in progress were capitalized as machinery and equipment costs.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2018 and 2017, certain property,
plant and equipment of Dongfang Paper with net values of $5,782,640 and $7,963,285, respectively, have been pledged pursuant to
a long-term loan from credit union of Dongfang Paper. Land use right of Dongfang Paper with net values of $5,990,586 and $6,437,419
as of December 31, 2018 and 2017 were pledged for the bank loan from Bank of Industrial &#38; Commercial Bank of China. In addition,
plant and equipment of Baoding Shengde with net values of $12,939,899 and $nil as of December 31, 2018 and 2017, respectively,
and another land use right with net value of $4,762,300 and $nil as of December 31, 2018 and 2017 were pledged for the bank loan
from Bank of Cangzhou. See &#8220;<i>Short-term bank loans</i>&#8221; under Note (7), Loans Payable, for details of the transaction
and asset collaterals.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation and amortization of property,
plant and equipment was $14,290,919 and $14,633,780 for the years ended December 31, 2018 and 2017, respectively. Impairment loss
was recorded for certain inactive production line in the amount of $3,894,461 and $2,291,027 for the years ended December 31,
2018 and 2017, respectively.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -URI http://asc.fasb.org/topic&amp;trid=2155823<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876620176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Payable<br></strong></div></th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Short-term
bank loans</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">December
    31,</font></td><td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">December
    31,</font></td><td style="font-weight: bold; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2018</font></td><td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2017</font></td><td style="padding-bottom: 1.5pt; font-weight: bold; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 70%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Industrial
    and Commercial Bank of China (&#8220;ICBC&#8221;) Loan 1</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 5%; text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(a)</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="width: 1%; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="width: 9%; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">4,285,145</font></td><td style="width: 1%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">ICBC
    Loan 2</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(b)</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2,907,778</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Bank of Cangzhou</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(c)</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">5,099,662</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">ICBC
    Loan 3</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(d)</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">4,079,730</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">ICBC
    Loan 4</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="padding-bottom: 1.5pt; text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(e)</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2,622,683</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total
    short-term bank loans</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="padding-bottom: 4pt; text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">11,802,075</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">7,192,923</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(a)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as
    of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January
    8, 2018.</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(b)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $- and
    $2,907,778 as     of December 31, 2018 and December 31, 2017. The working capital loan is secured by the Company&#8217;s land
    use right as collateral     for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan
    was due and repaid on October     12, 2018.</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(c)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn
    on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per
    annum. The working capital loan is secured by the Company&#8217;s land use right and guaranteed by the Company&#8217;s CEO
    and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on
    January 3, 2019.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(d)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as
    of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 5.4% per annum. The loan was due and repaid on January
    28, 2019.</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(e)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as
    of December 31, 2018. The working capital loan is secured by the Company&#8217;s land use right as collateral for the benefit
    of the bank. The loan bears a fixed interest rate of 4.741% per annum. The loan will be due on November 26, 2019.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, there were guaranteed short-term borrowings of $11,802,075 and unsecured bank loans of $nil. As of December
31, 2017, there were guaranteed short-term borrowings of $7,192,923 and unsecured bank loans of $nil.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
average short-term borrowing rates for the years ended December 31, 2018 and 2017 were approximately 5.66% and 5.27%, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Long-term
loans from credit union</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, loans payable to Rural Credit Union of Xushui County, amounted to $7,197,808 and $7,560,221, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">December
    31,</font></td><td style="font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">December
    31,</font></td><td style="font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif">2018</font></td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif">2017</font></td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Rural
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
April 16, 2014, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,
which is payable in various installments from June 21, 2014 to November 18, 2018. The loan is guaranteed by an independent third
party. Interest payment is due quarterly and bears the rate of 0.64% per month. On November 6, 2018, the loan was renewed for
additional 5 years and will be due and payable in various installments from December 21, 2018 to November 5, 2023. As of December
31, 2018 and 2017, total outstanding loan balance was $1,253,060 and $1,316,152, respectively, Out of the total outstanding loan
balance, current portion amounted were $nil and $1,316,152 as of December 31, 2018 and 2017, respectively, which are presented
as current liabilities in the consolidated balance sheet and the remaining balance of $1,253,060 and $nil are presented as non-current
liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
July 15, 2013, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 5 years,
which was originally due and payable in various installments from December 21, 2013 to July 26, 2018. On June 21, 2018, the loan
was extended for additional 5 years and will be due and payable in various installments from December 21, 2018 to June 20, 2023.
The loan is secured by certain of the Company&#8217;s manufacturing equipment with net book value of $5,782,640 and $7,963,285
as of December 31, 2018 and 2017, respectively. Interest payment is due quarterly and bears a fixed rate of 0.64% per month. As
of December 31, 2018 and 2017, the total outstanding loan balance was $3,642,615 and $3,826,022, respectively. Out of the total
outstanding loan balance, current portion amounted were $nil and $3,826,022 as of December 31, 2018 and 2017, respectively, which
are presented as current liabilities in the consolidated balance sheet and the remaining balance of $3,642,615 and $nil are presented
as non-current liabilities in the consolidated balance sheet as of December 31, 2018 and 2017, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
April 20, 2017, the Company entered into a loan agreement with the Rural Credit Union of Xushui District for a term of 2 years,
which is due and payable in various installments from August 26, 2017 to April 19, 2019. The loan is guaranteed by Hebei Tengsheng
with its land use right pledged as collateral for the benefit of the bank. Interest payment is due quarterly and bears a fixed
rate of 0.6% per month. As of December 31, 2018 and December 31, 2017, the total outstanding loan balance was $2,302,133 and $2,418,047,
respectively. Out of the total outstanding loan balance, current portion amounted were $2,302,133 and $1,224,328 as of December
31, 2018 and December 31, 2017, respectively, which are presented as current liabilities in the consolidated balance sheet and
the remaining balance of $nil and $1,193,719 are presented as non-current liabilities in the consolidated balance sheet as of
September 30, 2018 and December 31, 2017, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Total
interest expenses for the short-term bank loans and long-term loans for the years ended December 31, 2018 and 2017 were $1,214,708
and $1,196,814, respectively.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6856964384">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Related Party Transactions</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(8)
Related Party Transactions</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Mr
Zhenyong Liu, the Company&#8217;s CEO has loaned money to Dongfang Paper for working capital purposes over a period of time. On
January 1, 2013, Dongfang Paper and Mr. Zhenyong Liu renewed the three-year term loan previously entered on January 1, 2010, and
extended the maturity date further to December 31, 2015. On December 31, 2015, the Company paid off the loan of $2,249,279, together
with interest of $391,374 for the period from 2013 to 2015. Approximately $373,490 and $392,296 of interest were outstanding to
Mr. Zhenyong Liu, which were recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated
balance sheet as of December 31, 2018 and 2017, respectively.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
December 10, 2014, Mr. Zhenyong Liu provided a loan to the Company, amounted to $8,742,278 to Dongfang Paper for working capital
purpose with an interest rate of 4.35% per annum, which was based on the primary lending rate of People&#8217;s Bank of China.
The unsecured loan was provided on December 10, 2014, and would be originally due on December 10, 2017. During the year of 2016,
the Company repaid $6,012,416 to Mr. Zhenyong Liu, together with interest of $288,596. In February 2018, the company repaid $3,014,863
to Mr. Zhenyong Liu, together with interest of $20,400. As of December 31, 2018 and 2017, the outstanding loan balance was $nil
and $3,060,818, respectively and the accrued interest was $43,711 and $45,912, respectively, which was recorded in other payables
and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
March 1, 2015, the Company entered an agreement with Mr. Zhenyong Liu which allows Dongfang Paper to borrow from the CEO an amount
up to $17,484,555 (RMB120,000,000) for working capital purposes. The advances or funding under the agreement are due three years
from the date each amount is funded. The loan is unsecured and carries an annual interest rate set on the basis of the primary
lending rate of the People&#8217;s Bank of China at the time of the borrowing. On July 13, 2015, an unsecured amount of $4,324,636
was drawn from the facility. On October 14, 2016 an unsecured amount of $2,883,091 was drawn from the facility. In February 2018,
the company repaid $1,507,432 to Mr. Zhenyong Liu. The loan would be originally due on July 12, 2018. Mr. Zhenyong Liu agreed
to extend the loan for additional 3 years and the remaining balance will be due on July 12, 2021. On November 23, 2018, the company
repaid $3,768,579 to Mr. Zhenyong Liu, together with interest of $158,651. As of December 31, 2018 and 2017, the outstanding loan
balance were $2,185,569 and $7,652,047, respectively, and the accrued interest was $200,253 and $110,476, respectively, which
was recorded in other payables and accrued liabilities as part of the current liabilities in the consolidated balance sheet.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, total amount of loans due to Mr. Zhenyong Liu were $2,185,569 and $10,712,865, respectively. The
interest expense incurred for such related party loans are $277,411 and $451,626 for the years ended December 31, 2018 and 2017,
respectively. The accrued interest owe to the CEO was approximately $617,454 and $548,684, as of December 31, 2018 and 2017, respectively,
which was recorded in other payables and accrued liabilities.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 and 2017, amount due to shareholder are $210,148 and $nil, respectively, which represents funds from shareholders
to pay for various expenses incurred in the U.S. The amount is due on demand with interest free.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Sale
of Headquarters Compound Real Properties to a Related Party</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
August 7, 2013, the Company&#8217;s Audit Committee and the Board of Directors approved the sale of the land use right of the
Headquarters Compound (the &#8220;LUR&#8221;), the office building and essentially all industrial-use buildings in the Headquarters
Compound (the &#8220;Industrial Buildings&#8221;), and three employee dormitory buildings located within the Headquarters Compound
(the &#8220;Dormitories&#8221;) to Hebei Fangsheng for cash prices of approximately $2.77 million, $1.15 million, and $4.31 million
respectively. Sales of the LUR and the Industrial Buildings were completed in year 2013.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In
connection with the sale of the Industrial Buildings, Hebei Fangsheng agreed to lease the Industrial Buildings back to the Company
for its original use for a term of up to three years, with an annual rental payment of approximately $150,743 (RMB1,000,000).
The lease agreement expired in August 2016. On August 6, 2016 and August 6, 2018, the Company entered into two supplementary agreements
with Hebei Fangsheng, who agreed to extend the lease term for another four years in total, with the same rental payment as original
lease agreement.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -URI http://asc.fasb.org/topic&amp;trid=2122745<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Notes Payable<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, the Company had bank acceptance notes of $3,642,616 from the Bank of Cangzhou to one of its major suppliers
for settling purchase of raw materials. The acceptance notes are used to essentially extend the payment of accounts payable and
are issued under the banking facilities obtained from bank as well as the restricted bank deposit of $3,642,616 in the bank as
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2017, the Company had bank acceptance notes of $6,121,637 from the Bank of Cangzhou to one of its major suppliers
for settling purchase of raw materials. The acceptance notes are used to essentially extend the payment of accounts payable and
are issued under the banking facilities obtained from bank as well as the restricted bank deposit of $6,121,637 in the bank. The
bank acceptance notes from the bank bore interest rate at nil% per annum and 0.05% of notes amount as handling charge. The acceptance
notes were due and paid off in January 2018.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for short-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -URI http://asc.fasb.org/topic&amp;trid=2208564<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6778991808">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Payables and Accrued Liabilities<br></strong></div></th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6857016992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Common Stock<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Common Stock</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(11)
Common Stock</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Issuance
of common stock to investors&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 52.8pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
August 27, 2014, the Company issued 1,562,500 shares of our common stock and warrants to purchase up to 781,250 shares of our
common stock (the &#8220;Offering&#8221;). Each share of common stock and accompanying warrant was sold at a price of $1.60. Please
refer to Note (12), Stock Warrants, for details.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Issuance
of common stock pursuant to the 2012 Incentive Stock Plan and 2015 Omnibus Equity Incentive</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
January 12, 2016, the Company granted an aggregate of 1,133,916 shares of common stock under its compensatory incentive plans
to nine officers, directors and employees of and a consultant when the stock was at $1.25 per share, as compensation for their
services in the past years, of which 168,416 shares of common stock were granted under the 2012 Incentive Stock Plan and 965,500
shares were granted under the 2015 Omnibus Equity Incentive. Please see Note (15), Stock Incentive Plans for more details. Total
fair value of the stock was calculated at $1,417,395 as of the date of grant.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
September 13, 2018, the compensation committee granted an aggregate of 534,500 shares of common stock at $0.88 per share to fifteen
officers, directors and employees of the Company, which were granted under the 2015 Omnibus Equity Incentive Plan. Total fair
value of the shares of common stock granted was calculated at $470,360 as of the date of issuance.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Issuance
of common stock to Weitian&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 52.8pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
October 15, 2018, the Company entered an agreement with Weitian Group LCC(&#8220;Weitian&#8221;) and agreed as compensation to
issue to Weitian in the aggregate of 70,000 shares of common stock for investor relation consulting service rendered from October
15, 2018 to October 15,2019. 37500 shares of common stock were issued to Weitain on November 12, 2018. Total fair value of the
shares of common stock granted was calculated at $32,625 at $0.87 per share.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -URI http://asc.fasb.org/topic&amp;trid=2208762<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876572032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Warrants<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockWarrantsAbstract', window );"><strong>Stock Warrants [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockWarrantsTextBlock', window );">Stock warrants</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(12)
Stock warrants</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
August 27, 2014, the Company issued 1,562,500 shares of our common stock and warrants to purchase up to 781,250 shares of our
common stock. The warrants have an exercise price of $1.70 per share. These warrants are exercisable immediately upon issuance
on September 3, 2014 and have a term of exercise equal to five years from the date of issuance till September 2, 2019. The fair
value of these shares amounted to $780,000, is classified as equity at the date of issuance.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">5
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    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">72.0</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">%</font></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">1.69</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">%</font></td></tr>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.81</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">%</font></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In
connection with the Offering, the Company issued warrants to its placement agent of this Offering, which can purchase an aggregate
of up to 2.50% of the aggregate number of shares of common stock sold in the Offering, i.e. 39,062 shares. These warrants have
substantially the same terms as the warrants issued to purchaser in the Offering, except that the exercise price is $2.00 per
share and the expiration date is from September 3, 2014 to June 26, 2019. The fair value of these shares amounted to $35,191,
is classified in the equity at the date of issuance to net off the proceeds from the issuance of the shares and warrants.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
fair value of the warrants issued was estimated by using the Binominal pricing model with the following assumptions:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Terms
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Risk-free
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Expected
    dividend yield</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">0.81</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">%</font></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company applied judgment in estimating key assumptions in determining the fair value of the warrants on the date of issuance.
The Company used historical data to estimate stock volatilities and expected dividend yield. The risk-free rates are consistent
with the terms of the warrants and are based on the United States Treasury yield curve in effect at the time of issuance.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">A
summary of stock warrant activities is as below:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif">December
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 52%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Outstanding
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Issued
    during the year</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Exercised
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Cancelled
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Range
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td colspan="5" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">$
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</table>


<p style="margin: 0; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">No
warrants were issued, exercised, cancelled or expired during the years ended December 31, 2018 and 2017. As of December 31, 2018
and 2017, the aggregated intrinsic value of warrants outstanding and exercisable was $nil.</font></p><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_StockWarrantsAbstract">
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<tr><td><div class="body" style="padding: 2px;">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6776802688">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">Earnings Per Share</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(13)
Earnings Per Share</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,450,316</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Weighted average common stock outstanding - denominator</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,618,305</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">21,450,316</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="padding-bottom: 4pt">Diluted (loss) income per share</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.49</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018 and 2017, 820,312 shares related to warrants are excluded from the calculations of dilutive
net income per share as their effects would have been anti-dilutive since the average share price for the years ended December
31, 2018 and 2017 were lower than the warrants exercise price.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -URI http://asc.fasb.org/topic&amp;trid=2144383<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Taxes</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(14)
Income Taxes</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>United
States</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company and Shengde Holdings are incorporated in the State of Nevada and are subject to the U.S. federal tax and state statutory
tax rates up to 34% and 0%, respectively. On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the &#8220;2017 TCJAAct&#8221;),
which significantly changed U.S. tax law. The Act 2017 TCJA lowered the Company&#8217;s U.S. statutory federal income tax rate
from the highest rate of 35% to 21% effective January 1, 2018, while also imposing a deemed repatriation tax on deferred foreign
income which requires companies to pay a one-time transition tax on previously unremitted earnings of non-U.S. subsidiaries that
were previously tax deferred and creates new taxes on certain foreign sourced earnings. The SEC staff issued Staff Accounting
Bulletin (SAB) 118, which provides guidance on accounting for enactment effects of the 2017 TCJA. SAB 118 provides a measurement
period of up to one year from the 2017 TCJA&#8217;s enactment date for companies to complete their accounting under ASC 740. In
accordance with SAB 118, to the extent that a company&#8217;s accounting for certain income tax effects of the 2017 TCJA is incomplete
but it is able to determine a reasonable estimate, it must record a provisional estimate in its financial statements. If a company
cannot determine a provisional estimate to be included in its financial statements, it should continue to apply ASC 740 on the
basis of the provisions of the tax laws that were in effect immediately before the enactment of the 2017 TCJA.</font></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In
connection with the Company&#8217;s initial analysis of the impact of the enactment of the 2017 TCJA, the Company recorded a net
tax expense of approximately $80,000 in the fourth quarter of 2017. For various reasons that are discussed more fully below, including
the issuance of additional technical and interpretive guidance, the Company has not completed its accounting for the income tax
effects of certain elements of the 2017 TCJA. However, with respect to the following, the Company was able to make reasonable
estimates of the 2017 TCJA&#8217;s effects and, as such, recorded provisional amounts:</font></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Transition
tax: The transition tax is a tax on previously untaxed accumulated and current earnings and profits (E&#38;P) of certain of the
Company&#8217;s non-U.S. subsidiaries. To determine the amount of the transition tax, the Company must determine, in addition
to other factors, the amount of post-1986 E&#38;P of the relevant subsidiaries, as well as the amount of non-U.S. income taxes
paid on such earnings. Further, the transition tax is based in part on the amount of those earnings held in cash and other specified
assets. The Company was able to make a reasonable estimate of the transition tax and recorded a provisional obligation and additional
income tax expense of approximately $80,000 in the fourth quarter of 2017. However, the Company is continuing to gather additional
information and will consider additional technical guidance to more precisely compute and account for the amount of the transition
tax. This amount may change when the Company finalizes the calculation of post-1986 foreign E&#38;P previously deferred from U.S.
federal taxation and finalizes the amounts held in cash or other specified assets. The 2017 TCJA&#8217;s transition tax is payable
over eight years beginning in 2018. Hence, the Company only provided $6,528 for the year ended 31 December 2017.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>PRC</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Dongfang
Paper and Baoding Shengde are PRC operating companies and are subject to PRC Enterprise Income Tax. Pursuant to the PRC New Enterprise
Income Tax Law, Enterprise Income Tax is generally imposed at a statutory rate of 25%.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p>

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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to the reversible future PRC
income tax benefits stemming from the timing differences of items such as recognition of asset disposal gain or loss and asset
depreciation, the Company was incorporated in the United States and carried net operating losses of approximately $8,024,104 and
$7,119,918 for U.S. income tax purposes as of December 31, 2018 and 2017, respectively. The net operating loss carried forward
may be available to reduce future years&#8217; taxable income. These carry forwards would expire, if not utilized, beginning in
2030. Since management believed that the realization of all the U.S. income tax benefits from these losses, which generally would
generate a deferred tax asset if it can be expected to be utilized in the future, appears not more than likely due to the Company&#8217;s
limited operating history and continuing losses for United States income tax purposes, the Company has not recognized deferred
tax assets for such net operating losses. A summary of the otherwise deductible (or taxable) deferred tax items is as follows:</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom">
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<tr style="vertical-align: bottom; background-color: White">
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</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">The
following table reconciles the statutory rates to the Company&#8217;s effective tax rate as of:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"></font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr style="vertical-align: bottom; background-color: White">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr style="vertical-align: bottom; background-color: White">
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<tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2017, except for the one-time transition tax under the 2017 TCJA which imposes a U.S. tax liability on all unrepatriated
foreign E&#38;Ps, the Company does not believe that its future dividend policy and the available U.S. tax deductions and net operating
losses will cause the Company to recognize any other substantial current U.S. federal or state corporate income tax liability
in the near future. Nor does it believes that the amount of the repatriation of the VIE&#8217;s earnings and profits for purposes
of paying dividends will change the Company&#8217;s position that its PRC subsidiary Baoding Shengde and the VIE, Dongfang Paper
are considered or are expected to be indefinitely reinvested offshore to support our future capacity expansion. If these earnings
are repatriated to the U.S. resulting in U.S. taxable income in the future, or if it is determined that such earnings are to be
remitted in the foreseeable future, additional tax provisions would be required.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended December 31, 2018
and 2017, the effective income tax rate was estimated by the Company to be 17.6% and 28.5%, respectively.</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company has adopted ASC Topic 740-10-05, Income Taxes. To date, the adoption of this interpretation has not impacted the Company&#8217;s
financial position, results of operations, or cash flows. The Company performed self-assessment and the Company&#8217;s liability
for income taxes includes the liability for unrecognized tax benefits, interest and penalties which relate to tax years still
subject to review by taxing authorities. Audit periods remain open for review until the statute of limitations has passed, which
in the PRC is usually 5 years. The completion of review or the expiration of the statute of limitations for a given audit period
could result in an adjustment to the Company&#8217;s liability for income taxes. Any such adjustment could be material to the
Company&#8217;s results of operations for any given quarterly or annual period based, in part, upon the results of operations
for the given period. As of December 31, 2018 and 2017, management considered that the Company had no uncertain tax positions
affecting its consolidated financial position and results of operations or cash flows, and will continue to evaluate for any uncertain
position in future. There are no estimated interest costs and penalties provided in the Company&#8217;s consolidated financial
statements for the years ended December 31, 2018 and 2017, respectively. The Company&#8217;s tax positions related to open tax
years are subject to examination by the relevant tax authorities and the major one is the China Tax Authority.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6660588768">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Incentive Plans<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Stock Incentive Plans</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(15)
Stock Incentive Plans</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Issuance
of common stock pursuant to the 2011 Incentive Stock Plan and 2012 Incentive Stock Plan</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
August 28, 2011, the Company&#8217;s Annual General Meeting approved the 2011 Incentive Stock Plan ofIT Tech Packaging, Inc. (the
&#8220;2011 ISP&#8221;) as previously adopted by the Board of Directors on July 5, 2011. Under the 2011 ISP, the Company may grant
an aggregate of 375,000 shares of the Company&#8217;s common stock to the Company&#8217;s directors, officers, employees or consultants.
No stock or option was issued under the 2011 ISP until January 2, 2012, when the Compensation Committee granted 109,584 shares
of restricted common stock to certain officers and directors of the Company when the stock was at $3.45 per share, as compensation
for their services in the past years. Total fair value of the stock was calculated at $378,065 as of the date of issuance.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
September 10, 2012, the Company&#8217;s Annual General Meeting approved the 2012 Incentive Stock Plan of IT Tech Packaging , Inc.
(the &#8220;2012 ISP&#8221;) as previously adopted by the Board of Directors on July 4, 2012. Under the 2012 ISP, the Company
may grant an aggregate of 200,000 shares of the Company&#8217;s common stock to the Company&#8217;s directors, officers, employees
or consultants. Specifically, the Board and/or the Compensation Committee have authority to (a) grant, in its discretion, Incentive
Stock Options or Non-statutory Options, Stock Awards or Restricted Stock Purchase Offers; (b) determine in good faith the fair
market value of the stock covered by any grant; (c) determine which eligible persons shall receive grants and the number of shares,
restrictions, terms and conditions to be included in such grants; and (d) make all other determinations necessary or advisable
for the 2012 ISP&#8217;s administration. On December 31, 2013, the Compensation Committee granted restricted common shares of
297,000, out of which 265,416 shares were granted under the 2011 ISP and 31,584 shares under the 2012 ISP, to certain officers,
directors and employees of the Company when the stock was at $2.66 per share, as compensation for their services in the past years.
Total fair value of the stock was calculated at $790,020 as of the date of grant.&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>2015
Incentive Plan</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
August 29, 2015, the Company&#8217;s Annual General Meeting approved the 2015 Omnibus Equity Incentive Plan of IT Tech Packaging,
Inc. (the &#8220;2015 ISP&#8221;) as previously adopted by the Board of Directors on July 10, 2015. Under the 2015 ISP, the Company
may grant an aggregate of 1,500,000 shares of the Company&#8217;s common stock to the directors, officers, employees and/or consultants
of the Company and its subsidiaries.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
January 12, 2016, the Compensation Committee granted un-restricted common shares of 1,133,916, of which 168,416 shares were granted
under the 2012 ISP and 965,500 shares under the 2015 ISP, to certain officers, directors, employees and a consultant of the Company
as compensation for their services in the past years. Total fair value of the stock was calculated at $1,417,395 as of the date
of issuance at $1.25 per share.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
September 13, 2018, the compensation committee granted an aggregate of 534,500 shares of common stock to fifteen officers, directors
and employees of the Company, which were granted under the 2015 Omnibus Equity Incentive Plan. Total fair value of the shares
of common stock granted was calculated at $470,360 as of the date of issuance at $0.88 per share.</font></p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -URI http://asc.fasb.org/topic&amp;trid=2228938<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 50<br> -URI http://asc.fasb.org/subtopic&amp;trid=2208855<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6857016992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(16)
Commitments and Contingencies</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Operating
Lease</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company leases 32.95 acres of land from a local government in Xushui District, Baoding City, Hebei, China through a real estate
lease with a 30-year term, which expires on December 31, 2031. The lease requires an annual rental payment of approximately $18,089
(RMB 120,000). This operating lease is renewable at the end of the 30-year term.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">O
November 27, 2012, the company entered into a 49.4 acres land lease with an investment company in the Economic Development Zone
in Wei County, Hebei Province, China. The lease term of the Wei County land lease commences on the date of the lease and lasts
for 15 years. The lease requires an annual rental payment of $542,675 (RMB 3,600,000). The Company is currently building two new
tissue paper production lines and future production facilities in the leased Wei County land.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
mentioned in Note (8) Related Party Transactions, in connection with the sale of Industrial Buildings to Hebei Fangsheng, Hebei
Fangsheng agrees to lease the Industrial Buildings back to the Company at an annual rental of $150,743 (RMB 1,000,000), for a
total term of up to five years.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Future
minimum lease payments are as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid; text-align: left"><font style="font-family: Times New Roman, Times, Serif">December
    31,</font></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif">Amount</font></td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">2019</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">542,021</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">2020</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">542,021</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">2021</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">542,021</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">2022</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">542,021</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">2023</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">542,021</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Thereafter</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">2,194,312</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Total
    operating lease payments</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">4,904,417</font></td><td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Capital
commitment</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018, the Company has signed several contracts for improvement of Industrial Buildings. Total outstanding commitments
under these contracts were $2,300,187 and $11,227,896 as of December 31, 2018 and 2017, respectively. The Company expected to
pay off all the balances within 1 year.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Guarantees
and Indemnities</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company agreed with Baoding Huanrun Trading Co., a major supplier of raw materials, to guarantee certain obligations of this third
party, and as of December 31, 2018 and 2017, the Company guaranteed its long-term loan from financial institutions amounting to
$4,516,843 (RMB31,000,000) and $8,159,459 (RMB56,000,000) that matured at various times in 2023. If Huanrun Trading Co., were
to become insolvent, the Company could be materially adversely affected.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6660016560">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Reporting<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingDisclosureTextBlock', window );">Segment Reporting</a></td>
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Segment Reporting</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Since
March 10, 2010, Baoding Shengde started its operations and thereafter the Company manages its operations through two business
operating segments: Dongfang Paper, which produces offset printing paper and corrugating medium paper, and Baoding Shengde, which
produces digital photo paper. They are managed separately because each business requires different technology and marketing strategies.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company evaluates performance of its operating segments based on net income. Administrative functions such as finance, treasury,
and information systems are centralized. However, where applicable, portions of the administrative function expenses are allocated
between the operating segments based on gross revenue generated. The operating segments do share facilities in Xushui County,
Baoding City, Hebei Province, China. All sales were sold to customers located in the PRC.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Summarized
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"></font></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-family: Times New Roman, Times, Serif">Depreciation
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-family: Times New Roman, Times, Serif">Loss
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-family: Times New Roman, Times, Serif">Interest
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">5,025</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-family: Times New Roman, Times, Serif">Interest
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Total
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double"><font style="font-family: Times New Roman, Times, Serif">218,989,481</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -URI http://asc.fasb.org/topic&amp;trid=2134510<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6857016992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Concentration and Major Customers and Suppliers<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ConcentrationAndMajorCustomersAndSuppliersAbstract', window );"><strong>Concentration and Major Customers and Suppliers [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ConcentrationAndMajorCustomersAndSuppliersTextBlock', window );">Concentration and Major Customers and Suppliers</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>(18)
Concentration and Major Customers and Suppliers</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018 and 2017, the Company had no single customer contributed over 10% of total sales. &#160;For
the year ended December 31, 2018, the Company had two major suppliers that accounted for 82% and 7% of total purchases by the
Company.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For
the year ended December 31, 2017, the Company had two major suppliers that accounted for 69% and 8% of its total purchases.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of concentration and major customers and suppliers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6660997296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Concentration of Credit Risk<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RisksAndUncertaintiesAbstract', window );"><strong>Risks and Uncertainties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskDisclosureTextBlock', window );">Concentration of Credit Risk</a></td>
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Concentration of Credit Risk</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Financial
instruments for which the Company is potentially subject to concentration of credit risk consist principally of cash. The Company
places its cash in reputable financial institutions in the PRC and the United States. Although it is generally understood that
the PRC central government stands behind all of the banks in China in the event of bank failure, there is no deposit insurance
system in China that is similar to the protection provided by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) of
the United States as of December 31, 2018 and December 31, 2017. On May 1, 2015, the new &#8220;Deposit Insurance Regulations&#8221;
was effective in the PRC that the maximum protection would be up to RMB500,000 (US$72,852) per depositor per insured financial
intuition, including both principal and interest. For the cash placed in financial institutions in the United States, the Company&#8217;s
U.S. bank accounts are all fully covered by the FDIC insurance as of December 31, 2018 and 2017, respectively, while for the cash
placed in financial institutions in the PRC, the balances exceeding the maximum coverage of RMB500,000 amounted to RMB80,774,719
(US$11,769,250) as of December 31, 2018.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -URI http://asc.fasb.org/topic&amp;trid=2134479<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Risks and Uncertainties<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RisksAndUncertaintiesAbstract', window );"><strong>Risks and Uncertainties [Abstract]</strong></a></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">IT
Tech Packaging is subject to substantial risks from, among other things, intense competition associated with the industry in general,
other risks associated with financing, liquidity requirements, rapidly changing customer requirements, foreign currency exchange
rates, and operating in the PRC under its various laws and restrictions.</font></p><span></span>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6660997296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Recent Accounting Pronouncements<br></strong></div></th>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock', window );">Recent Accounting Pronouncements</a></td>
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Recent Accounting Pronouncements</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></font></p>

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of Financial Assets and Financial Liabilities&#8221; (&#8220;ASU 2016-01&#8221;). The amendments in this update require all equity
investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted
for under equity method of accounting or those that result in consolidation of the investee). The amendments in this update also
require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability
resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value
in accordance with the fair value option for financial instruments. In addition the amendments in this update eliminate the requirement
to disclose the method(s) and significant assumptions used to estimate the fair value that are required to be disclosed for financial
instruments measured at amortized cost on the balance sheet for public entities. For public business entities, the amendments
in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal
years. Except for the early application guidance discussed in ASU 2016-01, early adoption of the amendments in this update is
not permitted. We do not expect the adoption of ASU 2016-01 to have a material impact on our consolidated financial statements.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In
February 2016, the FASB issued ASU No. 2016-02, &#8220;Leases (Topic 842)&#8221; (&#8220;ASU 2016-02&#8221;). The amendments in
this update create Topic 842, Leases, and supersede the leases requirements in Topic 840, Leases. Topic 842 specifies the accounting
for leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information
to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The main difference
between Topic 842 and Topic 840 is the recognition of lease assets and lease liabilities for those leases classified as operating
leases under Topic 840. Topic 842 retains a distinction between finance leases and operating leases. The classification criteria
for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing
between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance
leases and operating leases is that under the lessee accounting model in Topic 842, the effect of leases in the statement of comprehensive
income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in ASU 2016-02 are effective for
fiscal years beginning after December 15, 2018, including interim periods within those fiscal years for public business entities.
Early application of the amendments in ASU 2016-02 is permitted. We are currently in the process of evaluating the impact of the
adoption of ASU 2016-02 on our consolidated financial statements.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">In
June 2016, the FASB issued ASU No. 2016-13, &#8220;Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses
on Financial Instruments&#8221; (&#8220;ASU 2016-13&#8221;). Financial Instruments-Credit Losses (Topic 326) amends guidelines
on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at
amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an
entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that
is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale
debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit
losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net
investment in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities,
trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial
assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective
for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating
the impact of the adoption of ASU 2016-13 on our consolidated financial statements.</font></p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -URI http://asc.fasb.org/topic&amp;trid=2122394<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6621449520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Event<br></strong></div></th>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 855<br> -URI http://asc.fasb.org/topic&amp;trid=2122774<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876572832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summarized Quarterly Financial Data (Unaudited)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_QuarterlyFinancialInformationTextBlock', window );">Summarized Quarterly Financial Data (Unaudited)</a></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Quarterly
financial information for 2018 and 2017 is as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6772505792">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Financial Information of the Parent Company<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><b>(24)
Condensed Financial Information of the Parent Company</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
condensed financial statements of IT Tech Packaging Inc. (&#8220;ITP&#8221;, the &#8220;parent company&#8221;) have been prepared
in accordance with accounting principles generally accepted in the United States of America. Under the PRC laws and regulations,
the Company&#8217;s PRC subsidiaries are restricted in their ability to transfer certain of their net assets to the parent company
in the form of dividend payments, loans or advances. The amounts restricted include paid-in capital, capital surplus and statutory
reserves, as determined pursuant to PRC generally accepted accounting principles, totaling $45,589,643 as of December 31, 2018
and 2017, respectively.</font></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><b>CONDENSED
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">188,894,696</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Total
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    <td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">188,899,854</font></td><td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">LIABILITIES
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Current
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Inter-company
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Accrued
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Accrued
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Income
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">6,528</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Total
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">3,990,654</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">3,574,490</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Total
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Total
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><b>CONDENSED
STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Selling,
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    <td style="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">402,579</font></td><td style="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Loss
    from Operations</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(402,579</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Equity
    in (loss)/earnings of unconsolidated subsidiaries</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(9,641,498</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">2,068,895</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Other
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">(Loss)/Income
before Income Taxes</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(10,537,493</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Provision
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(6,528</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Net
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Total
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</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><b>CONDENSED
STATEMENTS OF CASH FLOWS</b></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><b>&#160;</b></font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><b>BASIS
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872914400">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Basis of Consolidation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Basis
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.1pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
consolidated financial statements of the Company are prepared in accordance with accounting principles generally accepted in the
United States of America (&#8220;US GAAP&#8221;), and include the assets, liabilities, revenues, expenses and cash flows of all
subsidiaries and variable interest entity. All significant inter-company balances, transactions and cash flows are eliminated
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">As
of December 31, 2018 the Company had current assets of $24,158,872 and current liabilities of $29,634,267 (including amounts due
to related parties of $413,336 and interest payable for related party loans of $617,454), resulting in a working capital deficit
of approximately $5,475,395; as of December 31, 2017, the Company had current assets of $19,986,797 and current liabilities of
$21,757,533 (including amounts due to related parties of $60,378), resulting in a working capital deficit of approximately $1,770,736.
In late January, 2018, the Company temporarily suspended its production due to a government-mandated restriction on the natural
gas supply. The Company resumed production on March 14, 2018. As a result, the Company incurred a net loss of $4.0 million in
the first quarter of 2018. As the production resumed, the net cash generated from operations for the nine months from April 2018
to December 2018 was $14 million (cash-in) as compared to the net cash-out of $4.8 million in the first quarter of 2018. The management
expects that there will be sufficient and continuous cash-in from sales in the first half of year 2019 and the working capital
condition will be further improved.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign Currency Translation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Foreign
Currency Translation</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company accounts for foreign currency translation pursuant to ASC Topic 830,<i>&#160;Foreign Currency Matters</i>. The functional
currency of Dongfang Paper and Baoding Shengde is the Chinese Yuan Renminbi (&#8220;RMB&#8221;). Monetary assets and liabilities
denominated in currencies other than RMB are translated into RMB at the rates of exchange ruling at the balance sheet date. Transactions
in currencies other than RMB are converted into RMB at the applicable rates of exchange prevailing the transactions occurred.
Transaction gains and losses are recognized in the consolidated statements of income. The functional currency of IT Tech Packaging
and Shengde Holdings is United States dollars. Monetary assets and liabilities denominated in currencies other than United States
dollars are translated into United States dollars at the rates of exchange ruling at the balance sheet date. Translation in currencies
other than United States dollars are converted into United States dollars at the applicable rates of exchange prevailing when
the transactions occurred. Transaction gains or losses are recognized in the consolidated statement of income.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Under
ASC Topic 830-30, all assets and liabilities are translated into United States dollars using the current exchange rate at the
end of each fiscal period. The current exchange rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese
RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1, respectively. Revenues and expenses are translated using the average exchange
rates prevailing throughout the respective years at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively.
Translation adjustments are included in other comprehensive income (loss).</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Use
of Estimates</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities as of December 31, 2018 and 2017, and revenues and expenses for the
years ended December 31, 2018 and 2017. The most significant estimates relate to allowance for uncollectible accounts receivable,
inventory valuation, useful lives and impairment for property, plant and equipment, valuation allowance for deferred tax assets
and contingencies. Actual results could differ from those estimates made by management.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesPolicyTextBlock', window );">Accounts Receivable</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Accounts
Receivable</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Trade
accounts receivable are recorded on shipment of products to customers. The trade receivables are all without customer collateral
and interest is not accrued on past due accounts. Periodically, management reviews the adequacy of its provision for doubtful
accounts based on historical bad debt expense results and current economic conditions using factors based on the aging of its
accounts receivable. Additionally, the Company may identify additional allowance requirements based on indications that a specific
customer may be experiencing financial difficulties. Actual bad debt results could differ materially from these estimates. As
of December 31, 2018 and 2017, the balance of allowance for doubtful accounts was $58,707 and $37,626, respectively; and the movement
of the provision of the doubtful accounts is as below. While management uses the best information available upon which to base
estimates, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions
used for the purposes of analysis.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-weight: bold; padding-bottom: 1.5pt; white-space: nowrap; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif"><b>Allowance
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; font-family: Times New Roman, Times, Serif">&#160;</td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Opening
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Provision
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(45,309</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Exchange
    difference</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">3,457</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Closing
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    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">58,707</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Inventories</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Inventories</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Inventories
consist principally of raw materials and finished goods, and are stated at the lower of cost (average cost method) or market.
Cost includes labor, raw materials, and allocated overhead. No provision in inventories has been provided for the years ended
December 31, 2018 and 2017.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property, Plant, and Equipment</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Property,
Plant, and Equipment</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Property,
plant, and equipment are stated at cost less accumulated depreciation and any impairment losses. Major renewals, betterments,
and improvements are capitalized to the asset accounts while replacements, maintenance, and repairs, which do not improve or extend
the lives of the respective assets, are expensed to operations. At the time property, plant, and equipment are retired or otherwise
disposed of, the asset and related accumulated depreciation or amortization accounts are relieved of the applicable amounts. Gains
or losses from retirements or sales are credited or charged to operations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Construction-in-progress
is stated at cost and capitalized as expenses are incurred or as payments are made pursuant to relevant construction contracts.
Contract retention is recorded as accrued liability. Construction in progress is not depreciated until project completion and
the constructed property being placed in service, at which time the capitalized balance will be transferred to appropriate account
of property, plant and equipment.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company depreciates property, plant, and equipment using the straight-line method as follows:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">Land
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    <td style="width: 2%; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 49%; padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">Over
    the lease term</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">Building
    and improvements</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">30
    years</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">Machinery
    and equipment</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">5-15
    years</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">Vehicles</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="padding-left: 12.1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -12.1pt"><font style="font-family: Times New Roman, Times, Serif">15
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</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Valuation of long-lived asset</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Valuation
of long-lived asset</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company reviews the carrying value of long-lived assets to be held and used when events and circumstances warrants such a review.
The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is
separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which
the carrying value exceeds the fair market value of the long-lived asset and intangible assets. Fair market value is determined
primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets
and intangible assets to be disposed are determined in a similar manner, except that fair market values are reduced for the cost
to dispose.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StatutoryReservesPolicyTextBlock', window );">Statutory Reserves</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Statutory
Reserves</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">According
to the laws and regulations in the PRC, the Company is required to provide for certain statutory funds, namely, a reserve fund
by an appropriation from net profit after taxation but before dividend distribution based on the local statutory financial statements
of the PRC subsidiary and variable interest entity prepared in accordance with the PRC accounting principles and relevant financial
regulations.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Each
of the Company&#8217;s wholly owned subsidiary and variable interest entity in the PRC are required to allocate at least 10% of
its net profit to the reserve fund until the balance of such fund has reached 50% of its registered capital. Appropriations of
additional reserve fund are determined at the discretion of its directors. The reserve fund can only be used, upon approval by
the relevant authority, to offset accumulated losses or increase capital.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">For
the years ended December 31, 2018 and 2017, IT Tech Packaging made transfers of $nil to this reserve fund. As a result of net
loss in fiscal year 2018 and 2017 of Baoding Shengde, no statutory reserves were provided for the year ended December 31, 2018
and 2017. The Company&#8217;s variable interest entity Dongfang Paper, the statutory reserve account of which has been fully funded
for 50% of its registered capital in the amount of RMB 75,030,000 (or approximately $11,811,470) since December 31, 2010, did
not make any transfer to statutory reserves during the years ended December 31, 2018 and 2017.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CompensationAndEmployeeBenefitPlansTextBlock', window );">Employee Benefit Plan</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Employee
Benefit Plan</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Full
time employees of the PRC entities participate in a government mandated multi-employer defined contribution plan pursuant to which
certain pension benefits, medical care, unemployment insurance and other welfare benefits are provided to employees. The total
provision for such employee benefits was $nil for the years ended December 31, 2018 and 2017.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition Policy</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Revenue
Recognition Policy</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company recognizes revenue when goods are delivered, when a formal arrangement exists, the price is fixed or determinable, the
delivery is completed, no other significant obligations of the Company exist, and collectability is reasonably assured. Goods
are considered delivered when customer&#8217;s truck picks up goods at our finished goods inventory warehouse.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShippingAndHandlingCostPolicyTextBlock', window );">Shipping Cost</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Shipping
Cost</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Substantially
all customers use their own trucks or hire commercial trucking companies to pick up goods from the Company. The Company usually
incurs no shipping cost for delivery of goods to customers. For those rare situations where products are not shipped utilizing
customer specified shipping services, the Company charges customers a shipping fee which is included in net revenues and was not
material. Freight-in and handling costs incurred by the Company with respect to purchased goods are recorded as a component of
inventory cost and charged to cost of sales when the inventory items are sold.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdvertisingCostsPolicyTextBlock', window );">Advertising</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Advertising</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company expenses all advertising and promotion costs as incurred. The Company incurred $nil of advertising and promotion costs
for the years ended December 31, 2018 and 2017.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpensePolicy', window );">Research and development costs</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Research
and development costs</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Research
and development costs are expensed as incurred and included in selling, general and administrative expenses. Research and development
expenses incurred $30,194 and $31,922 for the years ended December 31, 2018 and 2017, respectively.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_BorrowingCostsPolicyTextBlock', window );">Borrowing costs</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Borrowing
costs</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Borrowing
costs attributable directly to the acquisition, construction or production of qualifying assets which require a substantial period
of time to be ready for their intended use or sale, are capitalized as part of the cost of those assets. Income earned on temporary
investments of specific borrowings pending their expenditure on those assets is deducted from borrowing costs capitalized. All
other borrowing costs are recognized in interest expenses in the period in which they are incurred.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GovernmentContractorsPolicyPolicyTextBlock', window );">Government subsidies</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Government
subsidies</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">A
government subsidy is not recognized until there is reasonable assurance that: (a) the enterprise will comply with the conditions
attached to the grant; and (b) the grant will be received. When the Company received the government subsidies but the conditions
attached to the grants have not been fulfilled, such government subsidies are deferred and recorded under other payables and accrued
expenses, and other long-term liability. The classification of short-term or long-term liabilities is depended on the management&#8217;s
expectation of when the conditions attached to the grant can be fulfilled. For the years ended December 31, 2018 and 2017, the
Company received government subsidies of $241,189 and $41,529, which are recognized as subsidy income in the consolidated statements
of income in that fiscal year.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseObligationPolicyTextBlock', window );">Lease Obligations</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Lease
Obligations</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">All
non-cancellable leases with an initial term greater than one year are categorized as either capital or operating leases. For the
lessee, a lease is a capital lease if any of the following conditions exist: a) ownership is transferred to the lessee by the
end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property&#8217;s estimated
remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more
of the fair value of the leased property to the lessor at the inception date. A capital lease is accounted for as if there was
an acquisition of an asset and an incurrence of an obligation at the inception of the lease. All other leases are accounted for
as operating leases. Assets recorded under capital leases are amortized according to the same depreciation methods employed for
property, plant and equipment or over the term of the related lease, if shorter.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 31.9pt"><font style="font-family: Times New Roman, Times, Serif">&#160;&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company defers any profit or loss from a sale-leaseback transaction unless any of the following conditions exist: a) the seller-lessee
relinquishes the right to substantially all of the remaining use of the property sold retaining only a minor portion of such use;
b) the seller-lessee retains more than a minor part but less than substantially all of the use of the property through the leaseback
and realizes a profit on the sale in excess of the recorded amount of the leased assets; or c) the fair value of the property
at the time of the transaction is less than its undepreciated cost, in which circumstance a loss shall be recognized immediately.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Income
Taxes</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company accounts for income taxes pursuant to ASC Topic 740, Income Taxes. Income taxes are provided on an asset and liability
approach for financial accounting and reporting of income taxes. Any tax paid by subsidiaries during the year is recorded. Current
tax is based on the profit or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income
tax purpose and is calculated using tax rates that have been enacted or substantively enacted at the balance sheet date. ASC Topic
740 also requires the recognition of deferred tax assets and liabilities for both the expected impact of differences between the
financial statements and the tax basis of assets and liabilities, and for the expected future tax benefit to be derived from tax
losses and tax credit carry-forwards. ASC Topic 740 additionally requires the establishment of a valuation allowance to reflect
the likelihood of realization of deferred tax assets. Realization of deferred tax assets, including those related to the U.S.
net operating loss carry-forwards, are dependent upon future earnings, if any, of which the timing and amount are uncertain.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company adopted ASC Topic 740-10-05,<i>&#160;Income Tax</i>, which provides guidance for recognizing and measuring uncertain tax
positions, it prescribes a threshold condition that a tax position must meet for any of the benefits of the uncertain tax position
to be recognized in the financial statements. It also provides accounting guidance on derecognizing, classification and disclosure
of these uncertain tax positions.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company&#8217;s policy on classification of all interest and penalties related to unrecognized income tax positions, if any, is
to present them as a component of income tax expense.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ValueAddedTaxPolicyTextBlock', window );">Value Added Tax</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Value
Added Tax</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Both
the PRC subsidiary and variable interest entity of the Company are subject to value added tax (&#8220;VAT&#8221;) imposed by the
PRC government on its purchase and sales of goods. The output VAT is charged to customers who purchase goods from the Company
and the input VAT is paid when the Company purchases goods from its vendors. VAT rate is 16% in general, depending on the types
of products purchased and sold. The input VAT can be offset against the output VAT. Debit balance of VAT payable represents a
credit against future collection of output VAT instead of a receivable due from government.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomePolicyPolicyTextBlock', window );">Comprehensive Income (Loss)</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Comprehensive
Income (Loss)</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company presents comprehensive income (loss) in accordance with ASC Topic 220,<i>&#160;Comprehensive Income</i>. ASC Topic 220
states that all items that are required to be recognized under accounting standards as components of comprehensive income (loss)
be reported in the consolidated financial statements. The components of comprehensive income (loss) were the net income for the
years and the foreign currency translation adjustments.&#160;</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings Per Share</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Earnings
Per Share</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Basic
earnings per share is computed by dividing the net income attributable to the common stockholders by the weighted average number
of shares of common stock outstanding during the period. Diluted earnings per share is computed similar to basic earnings per
share except that the denominator is increased to include the number of additional common shares that would have been outstanding
if the potential common shares had been issued and if the additional common shares were dilutive.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Share-Based Compensation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Share-Based
Compensation</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company uses the fair value recognition provision of ASC Topic 718,<i>&#160;Compensation-Stock Compensation,</i>&#160;which requires
the Company to expense the cost of employee services received in exchange for an award of equity instruments based on the grant
date fair value of such instruments over the vesting period.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company also applies the provisions of ASC Topic 505-50,<i>&#160;Equity Based Payments to Non-Employees</i>&#160;to account for
stock-based compensation awards issued to non-employees for services. Such awards for services are recorded at either the fair
value of the consideration received or the fair value of the instruments issued in exchange for such services, whichever is more
reliably measurable.</font></p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementPolicyPolicyTextBlock', window );">Fair Value Measurements</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif"><i>Fair
Value Measurements</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company has adopted ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value, establishes a framework
for measuring fair value in GAAP, and expands disclosures about fair value measurements. It does not require any new fair value
measurements, but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source
of the information. It establishes a three-level valuation hierarchy of valuation techniques based on observable and unobservable
inputs, which may be used to measure fair value and include the following:</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Level
1 - Quoted prices in active markets for identical assets or liabilities.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Level
2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or
liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable
market data for substantially the full term of the assets or liabilities.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48.4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Level
3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets
or liabilities.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 46.2pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">Classification
within the hierarchy is determined based on the lowest level of input that is significant to the fair value measurement.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company estimates the fair value of financial instruments using the available market information and valuation methods. Considerable
judgment is required in estimating fair value. Accordingly, the estimates of fair value may not be indicative of the amounts that
the Company could realize in a current market exchange. As of December 31, 2018 and 2017, the carrying value of the Company&#8217;s
short term financial instruments, such as cash and bank balances, accounts receivable, accounts and notes payable, short-term
bank loans and balance due to related parties, approximate at their fair values because of the short maturity of these instruments;
while loans from credit union, loans from a related party and obligation under capital lease approximate at their fair value as
the interest rates thereon are close to the market rates of interest published by the People&#8217;s Bank of China.</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>&#160;</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">The
Company does not have any assets and liabilities measured at fair value on a recurring basis as of December 31, 2018 and 2017.</font></p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NonRecurringFairValueMeasurementsPolicyTextBlock', window );">Non-Recurring Fair Value Measurements</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif"><i>Non-Recurring
Fair Value Measurements</i></font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 62.7pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The
Company reviews long-lived assets for impairment annually or more frequently if events or changes in circumstances indicate the
possibility of impairment. For the continuing operations, long-lived assets are measured at fair value on a nonrecurring basis
when there is an indicator of impairment, and they are recorded at fair value only when impairment is recognized. For discontinued
operations, long-lived assets are measured at the lower of carrying amount or fair value less cost to sell. The fair value of
these assets were determined using models with significant unobservable inputs which were classified as Level 3 inputs, primarily
the discounted future cash flow.</font></p><span></span>
</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for Borrowing costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The policy disclosure of lease obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for liquidity and going concern.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LiquidityAndGoingConcernPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for non recurring fair value measurements</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NonRecurringFairValueMeasurementsPolicyTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for statutory reserves.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_StatutoryReservesPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for Value Added Tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ValueAddedTaxPolicyTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84159346&amp;loc=d3e8275-108329<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 340<br> -SubTopic 20<br> -Section 55<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=68054294&amp;loc=d3e8384-108330<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdvertisingCostsPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -URI http://asc.fasb.org/topic&amp;trid=2228938<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 712<br> -URI http://asc.fasb.org/topic&amp;trid=2197446<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 710<br> -URI http://asc.fasb.org/topic&amp;trid=2127225<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 715<br> -URI http://asc.fasb.org/topic&amp;trid=2235017<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CompensationAndEmployeeBenefitPlansTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomePolicyPolicyTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.3A-02)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.3A-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355100-122828<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=109239629&amp;loc=d3e5614-111684<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConsolidationPolicyTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
</tr>
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450520&amp;loc=d3e32583-110901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for government contractors.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 05<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226317&amp;loc=d3e202-110218<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.CC)<br> -URI http://asc.fasb.org/extlink&amp;oid=27011434&amp;loc=d3e125687-122742<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32847-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 954<br> -SubTopic 740<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32809-109319<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32840-109319<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32247-109318<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e32280-109318<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 30<br> -Section 05<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=65884525&amp;loc=d3e40913-109327<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=66092785&amp;loc=d3e4556-108314<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109236672&amp;loc=d3e543-108305<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66092785&amp;loc=d3e4492-108314<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=84159169&amp;loc=d3e10133-111534<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84173941&amp;loc=d3e4975-111524<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpensePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876657872">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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    1, 2009</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">PRC</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">%</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">Paper&#160;production&#160;and&#160;distribution</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify; font-family: Times New Roman, Times, Serif">
<td style="width: 0; font-family: Times New Roman, Times, Serif"></td><td style="width: 0.25in; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">*</font></td><td style="text-align: justify; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Dongfang
                                         Paper is treated as a 100% controlled variable interest entity of the Company.</font></td></tr></table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfCondensedBalanceSheetTableTextBlock', window );">Schedule of aggregate financial information of assets and liabilities</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Current
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 76%; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Cash
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Restricted
    cash</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">3,642,616</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">6,121,637</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Accounts
    receivable</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2,876,632</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">1,843,682</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Inventories</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">2,906,004</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">8,431,972</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Prepayments
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">6,219,395</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">646,598</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">19,725,831</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">153,302,061</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">167,727,768</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Deferred
    tax asset non-current</font></td><td style="padding-bottom: 1.5pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">5,167,288</font></td><td style="padding-bottom: 1.5pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; text-align: left; padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total
    Assets</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">183,987,100</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">192,620,887</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">LIABILITIES</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Current
    Liabilities</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Short-term
    bank loans</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">11,802,075</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">7,192,923</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Current
    portion of long-term loans from credit union</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">189,416</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">5,142,175</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Accounts
    payable</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">629,054</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">422,705</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Notes
    payable</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">3,642,616</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">6,121,637</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Due
    to related parties</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">203,188</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">60,378</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Accrued
    payroll and employee benefits</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">208,660</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">227,163</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Other
    payables and accrued liabilities</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">10,222,766</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">836,309</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Income
    taxes payable</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">219,305</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">519,365</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font-weight: bold; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total
    current liabilities</font></td><td style="font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867875680">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and Significant Accounting Policies (Tables)<br></strong></div></th>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheudleOfPropertyPlantAndEquipmentEstimatedUsefulLiveTableTextBlock', window );">Schedule of depreciates property, plant, and equipment estimated useful lives</a></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876497728">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr class="ro">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876572032">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Prepayments and Other Current Assets (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheduleOfPrepaidExpensesAndOtherCurrentAssetsTableTextBlock', window );">Schedule of prepayments and other current assets</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Schedule of Prepaid Expenses and Other Current Assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6633553200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, Plant and Equipment (Tables)<br></strong></div></th>
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<tr class="ro">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6864870496">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Payable (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
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    <td style="padding-bottom: 4pt; text-align: center; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="padding-bottom: 4pt; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="border-bottom: Black 4pt double; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">7,192,923</font></td><td style="padding-bottom: 4pt; text-align: left; font-family: Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(a)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as
    of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
    for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January
    8, 2018.</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(b)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $- and
    $2,907,778 as     of December 31, 2018 and December 31, 2017. The working capital loan is secured by the Company&#8217;s land
    use right as collateral     for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan
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<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(c)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn
    on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per
    annum. The working capital loan is secured by the Company&#8217;s land use right and guaranteed by the Company&#8217;s CEO
    and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on
    January 3, 2019.</font></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(d)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as
    of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral
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    28, 2019.</font></td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">(e)</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">On
    November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as
    of December 31, 2018. The working capital loan is secured by the Company&#8217;s land use right as collateral for the benefit
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</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of loans payable</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif"><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">December
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    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">December
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Rural
    Credit Union of Xushui District Loan 1</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">1,253,060</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Rural
    Credit Union of Xushui District Loan 2</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">3,642,615</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">3,826,022</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Rural
    Credit Union of Xushui District Loan 3</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">2,302,133</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">2,418,047</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">Total</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">7,560,221</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Less:
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(2,491,549</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(6,366,502</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Long-term
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    <td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">4,706,259</font></td><td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">1,193,719</font></td><td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr></table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock', window );">Schedule of long-term debt repayments</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><tr style="vertical-align: bottom"><td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 1.5pt solid"><b>Fiscal year</b></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">Amount</td><td style="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 91%; font: 10pt Times New Roman, Times, Serif; text-align: left">2019</td><td style="width: 0%; font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 7%; font: 10pt Times New Roman, Times, Serif; text-align: right">2,491,549</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2020</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">131,134</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2021</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">203,986</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">2022</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,602,751</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt">2023</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&#160;</td>
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<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt">Total</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; border-bottom: Black 4pt double">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right; border-bottom: Black 4pt double">7,197,808</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt">&#160;</td></tr></table><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ScheduleOfLongTermDebtRepaymentsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-term debt repayments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6779796304">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Payables and Accrued Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock', window );">Schedule of other payables and accrued liabilities</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867880928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Warrants (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockWarrantsLineItems', window );"><strong>Stock Warrants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock', window );">Summary of stock warrant activities</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><font style="font-family: Times New Roman, Times, Serif">December
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Issued
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Exercised
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Cancelled
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Outstanding
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    <td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">820,312</font></td><td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Range
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td colspan="5" style="font: 10pt Times New Roman, Times, Serif; text-align: center"><font style="font-family: Times New Roman, Times, Serif">$
                                         1.70 to $2.00</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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                                         1.70 to $2.00</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
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</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember', window );">Date of issuance August 27, 2014 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockWarrantsLineItems', window );"><strong>Stock Warrants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock', window );">Schedule fair value of warrants issued was estimated by using Binominal pricing model</a></td>
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">5
                                         years</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember', window );">Date of issuance from September 3, 2014 to June 26, 2019 [Member]</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Stock warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of derivative liabilities at fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for share-based compensation plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876571232">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share (Tables)<br></strong></div></th>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6660016560">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock', window );">Schedule of provisions for income taxes</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><tr style="vertical-align: bottom"><td style="text-align: right">&#160;</td><td style="font-weight: bold">&#160;</td>
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<tr style="vertical-align: bottom; background-color: White">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock', window );">Schedule of deferred tax</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><tr style="vertical-align: bottom"><td></td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">7,097,828</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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    <td style="text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Net operating loss carryover for U.S. income tax purposes</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="text-align: left">Total deferred tax assets</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">8,277,091</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of reconciles the statutory rates effective tax rates</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><tr style="vertical-align: bottom"><td></td><td style="font-weight: bold">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6856794240">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Tables)<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock', window );">Schedule of future minimum lease payments of all operating leases</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6776213344">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Reporting (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></p>

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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><font style="font-family: Times New Roman, Times, Serif">Interest
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">662,828</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867640384">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summarized Quarterly Financial Data (Unaudited) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data.</p></div>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876535840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Financial Information of the Parent Company (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheduleOfCondensedBalanceSheetOneTableTextBlock', window );">Schedule of condensed balance sheets</a></td>
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    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Total
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Investment
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Total
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    <td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="border-bottom: Black 4pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">188,899,854</font></td><td style="padding-bottom: 4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">LIABILITIES
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Current
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Inter-company
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">$</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">3,567,962</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Accrued
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Accrued
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Income
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">6,528</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Total
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">3,574,490</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Total
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><font style="font-family: Times New Roman, Times, Serif">Total
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</table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfCondensedIncomeStatementTableTextBlock', window );">Schedule of condensed statements of income and comprehensive income (loss)</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: bold 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Loss
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(895,995</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(402,579</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Equity
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">(9,641,498</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">)&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">2,068,895</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Other
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">(Loss)/Income
before Income Taxes</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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</table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock', window );">Schedule of condensed statements of cash flows</a></td>
<td class="text"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">-</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">Net
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    <td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">422,692</font></td><td style="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">Net
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
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    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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<tr style="vertical-align: bottom; background-color: White; font-family: Times New Roman, Times, Serif">
    <td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><font style="font-family: Times New Roman, Times, Serif">&#160;</font></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255); font-family: Times New Roman, Times, Serif">
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</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfCondensedCashFlowStatementTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 3<br> -Paragraph i<br> -Subsection 10<br></p></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 3<br> -Paragraph i<br> -Subsection 10<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6862804352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business Background (Details)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr><th class="th" colspan="2"><div>Dec. 31, 2018</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=itp_DongfangHoldingMember', window );">Dongfang Holding [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract', window );"><strong>Schedule of company's subsidiaries and variable interest entities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationDateOfIncorporation', window );">Entity Incorporation, Date of Incorporation</a></td>
<td class="text">Nov. 13,  2006<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryName', window );">Entity Incorporation State Country Name</a></td>
<td class="text">BVI<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Percentage of Ownership</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose', window );">Principal Activity</a></td>
<td class="text">Inactive investment holding<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=itp_ShengdeHoldingMember', window );">Shengde Holdings [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract', window );"><strong>Schedule of company's subsidiaries and variable interest entities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationDateOfIncorporation', window );">Entity Incorporation, Date of Incorporation</a></td>
<td class="text">Feb. 25,  2009<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryName', window );">Entity Incorporation State Country Name</a></td>
<td class="text">State of Nevada<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Percentage of Ownership</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose', window );">Principal Activity</a></td>
<td class="text">Investment holding<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=itp_BaodingShengdeMember', window );">Baoding Shengde [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract', window );"><strong>Schedule of company's subsidiaries and variable interest entities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationDateOfIncorporation', window );">Entity Incorporation, Date of Incorporation</a></td>
<td class="text">Jun.  01,  2009<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryName', window );">Entity Incorporation State Country Name</a></td>
<td class="text">PRC<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Percentage of Ownership</a></td>
<td class="nump">100.00%<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose', window );">Principal Activity</a></td>
<td class="text">Paper production and distribution<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=itp_DongfangPaperMember', window );">Dongfang Paper [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ScheduleOfSubsidiariesAndVariableInterestEntitiesAbstract', window );"><strong>Schedule of company's subsidiaries and variable interest entities</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationDateOfIncorporation', window );">Entity Incorporation, Date of Incorporation</a></td>
<td class="text">Mar. 10,  1996<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryName', window );">Entity Incorporation State Country Name</a></td>
<td class="text">PRC<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_EquityMethodInvestmentOwnershipPercentageDescription', window );">Percentage of Ownership</a></td>
<td class="text">Control<span></span>
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<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose', window );">Principal Activity</a></td>
<td class="text">Paper production and distribution<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Dongfang Paper is treated as a 100% controlled variable interest entity of the Company.</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date when an entity was incorporated</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>State or Country Name where an entity is incorporated</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of equity method investment ownership percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=114001798&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of business purpose of the subsidiary of the limited liability company or limited partnership, for example, its day-to-day operating functions and whether it acts as a holding or operating company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=itp_DongfangHoldingMember</td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=itp_ShengdeHoldingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=itp_ShengdeHoldingMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=itp_BaodingShengdeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=itp_BaodingShengdeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=itp_DongfangPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=itp_DongfangPaperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6886409760">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Organization and Business Background (Details 1) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and bank balances</a></td>
<td class="nump">$ 12,117,425<span></span>
</td>
<td class="nump">$ 9,017,427<span></span>
</td>
<td class="nump">$ 4,494,964<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">3,642,616<span></span>
</td>
<td class="nump">6,121,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNet', window );">Accounts receivable</a></td>
<td class="nump">2,876,632<span></span>
</td>
<td class="nump">1,843,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
<td class="nump">2,923,516<span></span>
</td>
<td class="nump">8,474,165<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepayments and other current assets</a></td>
<td class="nump">6,241,299<span></span>
</td>
<td class="nump">651,523<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">24,158,872<span></span>
</td>
<td class="nump">19,986,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant, and equipment, net</a></td>
<td class="nump">167,829,716<span></span>
</td>
<td class="nump">189,388,709<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent', window );">Deferred tax asset non-current</a></td>
<td class="nump">8,277,091<span></span>
</td>
<td class="nump">6,572,559<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">203,076,010<span></span>
</td>
<td class="nump">218,989,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank loans</a></td>
<td class="nump">11,802,075<span></span>
</td>
<td class="nump">7,192,923<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">629,054<span></span>
</td>
<td class="nump">422,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Notes payable</a></td>
<td class="nump">3,642,616<span></span>
</td>
<td class="nump">6,121,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">413,336<span></span>
</td>
<td class="nump">60,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued payroll and employee benefits</a></td>
<td class="nump">213,536<span></span>
</td>
<td class="nump">231,247<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccountsPayableAndAccruedLiabilities', window );">Other payables and accrued liabilities</a></td>
<td class="nump">10,222,796<span></span>
</td>
<td class="nump">836,337<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income taxes payable</a></td>
<td class="nump">219,305<span></span>
</td>
<td class="nump">525,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">29,634,267<span></span>
</td>
<td class="nump">21,757,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLoansPayableLongTerm', window );">Loans from credit union</a></td>
<td class="nump">4,706,259<span></span>
</td>
<td class="nump">1,193,719<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesNoncurrent', window );">Loans from a related party</a></td>
<td class="nump">2,185,569<span></span>
</td>
<td class="nump">10,712,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">36,526,095<span></span>
</td>
<td class="nump">33,664,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember', window );">Dongfang Paper [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and bank balances</a></td>
<td class="nump">8,328,980<span></span>
</td>
<td class="nump">2,681,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">3,642,616<span></span>
</td>
<td class="nump">6,121,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNet', window );">Accounts receivable</a></td>
<td class="nump">2,876,632<span></span>
</td>
<td class="nump">1,843,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
<td class="nump">2,906,004<span></span>
</td>
<td class="nump">8,431,972<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepayments and other current assets</a></td>
<td class="nump">6,219,395<span></span>
</td>
<td class="nump">646,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">23,973,627<span></span>
</td>
<td class="nump">19,725,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, plant, and equipment, net</a></td>
<td class="nump">153,302,061<span></span>
</td>
<td class="nump">167,727,768<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent', window );">Deferred tax asset non-current</a></td>
<td class="nump">6,711,412<span></span>
</td>
<td class="nump">5,167,288<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">183,987,100<span></span>
</td>
<td class="nump">192,620,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Short-term bank loans</a></td>
<td class="nump">11,802,075<span></span>
</td>
<td class="nump">7,192,923<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CurrentPortionOfLongTermLoansFromCreditUnion', window );">Current portion of long-term loans from credit union</a></td>
<td class="nump">189,416<span></span>
</td>
<td class="nump">5,142,175<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">629,054<span></span>
</td>
<td class="nump">422,705<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Notes payable</a></td>
<td class="nump">3,642,616<span></span>
</td>
<td class="nump">6,121,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">203,188<span></span>
</td>
<td class="nump">60,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued payroll and employee benefits</a></td>
<td class="nump">208,660<span></span>
</td>
<td class="nump">227,163<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccountsPayableAndAccruedLiabilities', window );">Other payables and accrued liabilities</a></td>
<td class="nump">10,222,766<span></span>
</td>
<td class="nump">836,309<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income taxes payable</a></td>
<td class="nump">219,305<span></span>
</td>
<td class="nump">519,365<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">27,117,080<span></span>
</td>
<td class="nump">20,522,655<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLoansPayableLongTerm', window );">Loans from credit union</a></td>
<td class="nump">4,706,259<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesNoncurrent', window );">Loans from a related party</a></td>
<td class="nump">2,185,569<span></span>
</td>
<td class="nump">10,712,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 34,008,908<span></span>
</td>
<td class="nump">$ 31,235,520<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_CurrentPortionOfLongTermLoansFromCreditUnion">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current portion of long-term loans from credit union.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_CurrentPortionOfLongTermLoansFromCreditUnion</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(9))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedIncomeTaxesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(b)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedIncomeTaxesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6801-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31917-109318<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31931-109318<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Portion of the carrying amount as of the balance sheet date of obligations due all related parties that is payable after one year or beyond the normal operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeRelatedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=68049868&amp;loc=d3e3927-108312<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities incurred and payable to vendors for goods and services received classified as other, and expenses incurred but not yet paid, payable within one year or the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLoansPayableLongTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term loans classified as other, payable after one year or the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLoansPayableLongTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermBankLoansAndNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of borrowings from a bank classified as other, maturing within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermBankLoansAndNotesPayable</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6887455216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization and Business Background (Details Textual)<br></strong></div></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Feb. 10, 2010 </div>
<div>USD ($) </div>
<div>&#165; / shares</div>
</th>
<th class="th">
<div>Jun. 24, 2009 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Oct. 29, 2007 </div>
<div>shares</div>
</th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2010</div></th>
<th class="th">
<div>Jun. 30, 2010 </div>
<div>USD ($)</div>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_OrganizationAndBusinessBackgroundTextualAbstract', window );"><strong>Organization and Business Background (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PercentageShareOfDistributableProfit', window );">Percentage of distributable profit of Dongfang Paper</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">100.00%<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_TypeOfCurrencyAxis=itp_RMBMember', window );">RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_OrganizationAndBusinessBackgroundTextualAbstract', window );"><strong>Organization and Business Background (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentOptionsExercisePrice', window );">Exercise price for options | &#165; / shares</a></td>
<td class="nump">&#165; 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=itp_BaodingShengdeMember', window );">Baoding Shengde [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_OrganizationAndBusinessBackgroundTextualAbstract', window );"><strong>Organization and Business Background (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityOwnershipPercentage', window );">Percentage of ownership</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Capital', window );">Registered capital</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,000,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 60,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TerminationLoans', window );">Loan agreement to terminate</a></td>
<td class="nump">&#165; 10,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=itp_DongfangHoldingMember', window );">Dongfang Holding [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_OrganizationAndBusinessBackgroundTextualAbstract', window );"><strong>Organization and Business Background (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityOwnershipPercentage', window );">Percentage of ownership</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares of common stock issued to shareholders under merger agreement | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,450,497<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityReverseStockSplit', window );">Reverse stock split</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Four-for-one<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=itp_DongfangPaperMember', window );">Dongfang Paper [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_OrganizationAndBusinessBackgroundTextualAbstract', window );"><strong>Organization and Business Background (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityOwnershipPercentage', window );">Percentage of ownership</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ServiceFeePercentageOfNetProfit', window );">Service fees percentage of annual net profits</a></td>
<td class="nump">80.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PercentageShareOfDistributableProfit', window );">Percentage of distributable profit of Dongfang Paper</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TerminationLoans', window );">Loan agreement to terminate</a></td>
<td class="nump">&#165; 10,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Percentage of revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">99.98%<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_EntityWideAssetsMajorCustomerPercentage', window );">Percentage of assets accounted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">90.60%<span></span>
</td>
<td class="nump">87.96%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price of the option.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Footnote 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentOptionsExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>invest_</td>
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<tr>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Entity wide assets major customer percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_EntityWideAssetsMajorCustomerPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_OrganizationAndBusinessBackgroundTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_OrganizationAndBusinessBackgroundTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_PercentageShareOfDistributableProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage share of distributable profit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_PercentageShareOfDistributableProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ServiceFeePercentageOfNetProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Service fees percentage of annual net profit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ServiceFeePercentageOfNetProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Capital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of total capital as defined in the regulations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6490092&amp;loc=d3e47304-110998<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 505<br> -Section 50<br> -Paragraph 1H<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=84167132&amp;loc=d3e65071-112826<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 948<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6490092&amp;loc=d3e47080-110998<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 505<br> -Section 50<br> -Paragraph 1H<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=84167132&amp;loc=d3e65071-112826<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Capital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6351-108592<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=109250915&amp;loc=d3e13531-108611<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109250915&amp;loc=d3e13537-108611<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6404-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=114775985&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period pursuant to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityReverseStockSplit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the reverse stock split arrangement. Also provide the retroactive effect given by the reverse split that occurs after the balance sheet date but before the release of financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SAB Topic 4.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityReverseStockSplit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TerminationLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Definite liabilities to third parties under a termination loan agreement, whether or not guaranteed in whole or in part by the government.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 912<br> -SubTopic 405<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=68073528&amp;loc=d3e56288-109415<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TerminationLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntityOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the Variable Interest Entity's (VIE) voting interest owned by (or beneficial interest in) the reporting entity (directly or indirectly).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5A<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=108788376&amp;loc=SL6759159-111685<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntityOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_TypeOfCurrencyAxis=itp_RMBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_TypeOfCurrencyAxis=itp_RMBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=itp_BaodingShengdeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=itp_BaodingShengdeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=itp_DongfangHoldingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=itp_DongfangHoldingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=itp_DongfangPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=itp_DongfangPaperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885547312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and Significant Accounting Policies (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward', window );"><strong>Allowance for Doubtful Accounts Receivable [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Opening balance</a></td>
<td class="nump">$ 37,626<span></span>
</td>
<td class="nump">$ 79,478<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Provision (Reversal) for the year</a></td>
<td class="nump">23,676<span></span>
</td>
<td class="num">(45,309)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_AllowanceForDoubtfulAccountsExchangeDifference', window );">Exchange difference</a></td>
<td class="num">(2,595)<span></span>
</td>
<td class="nump">3,457<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Closing balance</a></td>
<td class="nump">$ 58,707<span></span>
</td>
<td class="nump">$ 37,626<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_AllowanceForDoubtfulAccountsExchangeDifference">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Allowance for doubtful accounts exchange difference.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_AllowanceForDoubtfulAccountsExchangeDifference</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84173941&amp;loc=d3e5074-111524<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.5)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 606<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=82913815&amp;loc=SL49130534-203044<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6862827952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and Significant Accounting Policies (Details 1)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_UseRightsMember', window );">Land use right [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives', window );">Property, plant, and equipment, Useful life</a></td>
<td class="text">Over the lease term<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember', window );">Building and improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant, and equipment, Useful life</a></td>
<td class="text">30 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember', window );">Vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant, and equipment, Useful life</a></td>
<td class="text">15 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember', window );">Machinery and equipment [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant, and equipment, Useful life</a></td>
<td class="text">5 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember', window );">Machinery and equipment [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant, and equipment, Useful life</a></td>
<td class="text">15 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 35<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=68071081&amp;loc=d3e1205-110223<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=84158767&amp;loc=d3e18780-107790<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_UseRightsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_UseRightsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<SEQUENCE>78
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6886235520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and Significant Accounting Policies (Details Textual)<br></strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>CNY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract', window );"><strong>Basis of Presentation and Significant Accounting Policies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">$ 24,158,872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,986,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 24,158,872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,986,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">29,634,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,757,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,634,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,757,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">413,336<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">413,336<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_WorkingCapitalDeficit', window );">Working capital deficit</a></td>
<td class="nump">5,475,395<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,770,736<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,475,395<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,770,736<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Interest payable for related party loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">548,684<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">548,684<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="num">(5,164,440)<span></span>
</td>
<td class="num">$ (1,404,962)<span></span>
</td>
<td class="nump">$ 109,994<span></span>
</td>
<td class="num">$ (4,086,276)<span></span>
</td>
<td class="num">(1,636,333)<span></span>
</td>
<td class="nump">$ 1,572,335<span></span>
</td>
<td class="nump">$ 15,917<span></span>
</td>
<td class="nump">$ 1,707,869<span></span>
</td>
<td class="num">(10,545,684)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NetCashIn', window );">Net cash in</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NetCashOut', window );">Net cash out</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount', window );">Current exchange rates, description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The current exchange rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1, respectively. Revenues and expenses are translated using the average exchange rates prevailing throughout the respective years at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively.<span></span>
</td>
<td class="text">The current exchange rates used by the Company as of December 31, 2018 and 2017 to translate the Chinese RMB to the U.S. Dollars are 6.8632:1, and 6.5342:1, respectively. Revenues and expenses are translated using the average exchange rates prevailing throughout the respective years at 6.6338:1 and 6.7423:1 for the years ended December 31, 2018 and 2017, respectively.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for doubtful accounts</a></td>
<td class="nump">58,707<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,626<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 58,707<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,626<span></span>
</td>
<td class="nump">$ 79,478<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NetProfitTransferredToStatutoryReserveFund', window );">Registered capital, amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,811,470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,194<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,922<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SubsidyIncome', window );">Subsidy income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 241,189<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseObligationsDescription', window );">Lease obligations, description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property?s estimated remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property to the lessor at the inception date.<span></span>
</td>
<td class="text">a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property?s estimated remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property to the lessor at the inception date.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ValueAddedTaxRate', window );">VAT rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_AdvertisingAndPromotionCosts', window );">Advertising and promotion costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_TransfersOfReserveFund', window );">Transfers of reserve fund</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedEmployeeBenefitsCurrent', window );">Provision for employee benefits</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_TypeOfCurrencyAxis=itp_RMBMember', window );">RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract', window );"><strong>Basis of Presentation and Significant Accounting Policies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NetProfitTransferredToStatutoryReserveFund', window );">Registered capital, amount | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 75,030,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_AdvertisingAndPromotionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of advertising and promotion costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_AdvertisingAndPromotionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_BasisOfPresentationAndSignificantAccountingPoliciesTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_LeaseObligationsDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LeaseObligationsDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_NetCashIn">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NetCashIn</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_NetCashOut">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net cash out.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NetCashOut</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_NetProfitTransferredToStatutoryReserveFund">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net profit transferred to statutory reserve fund.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NetProfitTransferredToStatutoryReserveFund</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SubsidyIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SubsidyIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_TransfersOfReserveFund">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Transfers of reserve fund.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_TransfersOfReserveFund</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ValueAddedTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>It represents value added tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ValueAddedTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_WorkingCapitalDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of working capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_WorkingCapitalDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedEmployeeBenefitsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations, excluding pension and other postretirement benefits, incurred through that date and payable for perquisites provided to employees pertaining to services received from them. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedEmployeeBenefitsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84173941&amp;loc=d3e5074-111524<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6801-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of why the actual reporting currency-denominated balances differ from the amounts reported for financial reporting purposes, including the reasons for using two different rates with respect to remeasurement and translation.  For example, in certain jurisdictions, companies may utilize an official exchange rate and also a parallel rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 30<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6897108&amp;loc=SL6897125-166521<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DescriptionOfDifferenceBetweenReportedAmountAndReportingCurrencyDenominatedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e7018-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 985<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 730<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ResearchAndDevelopmentExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_TypeOfCurrencyAxis=itp_RMBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_TypeOfCurrencyAxis=itp_RMBMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867893200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restricted Cash (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RestrictedCashTextualAbstract', window );"><strong>Restricted Cash (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">$ 3,642,616<span></span>
</td>
<td class="nump">$ 6,121,637<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RestrictedCashDescription', window );">Description of restricted cash notes payable maturity</a></td>
<td class="text">The restriction has been lifted upon the maturity of the notes payable on January 10, 2019.<span></span>
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<td class="text">The restriction has been lifted upon the maturity of the notes payable on January 5, 2018.<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Restricted Cash, Description.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_RestrictedCashDescription</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_RestrictedCashTextualAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885899088">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Inventories (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNetAbstract', window );"><strong>Schedule of inventories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
<td class="nump">$ 1,355,703<span></span>
</td>
<td class="nump">$ 7,488,437<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryFinishedGoods', window );">Finished Goods</a></td>
<td class="nump">1,567,813<span></span>
</td>
<td class="nump">985,728<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Totals</a></td>
<td class="nump">2,923,516<span></span>
</td>
<td class="nump">8,474,165<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=itp_RecycledPaperBoardMember', window );">Recycled paper board [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNetAbstract', window );"><strong>Schedule of inventories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
<td class="nump">412,317<span></span>
</td>
<td class="nump">6,337,374<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=itp_RecycledWhiteScrapPaperMember', window );">Recycled white scrap paper [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNetAbstract', window );"><strong>Schedule of inventories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
<td class="nump">611,861<span></span>
</td>
<td class="nump">862,734<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=itp_PublicUtilitiesInventoryCoalAndGasMember', window );">Coal &amp; gas [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNetAbstract', window );"><strong>Schedule of inventories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
<td class="nump">167,230<span></span>
</td>
<td class="nump">71,674<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=itp_BasePaperAndOtherRawMaterialsMember', window );">Base paper and other raw materials [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNetAbstract', window );"><strong>Schedule of inventories</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryRawMaterials', window );">Raw materials</a></td>
<td class="nump">$ 164,295<span></span>
</td>
<td class="nump">$ 216,655<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryFinishedGoods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryFinishedGoods</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=68049868&amp;loc=d3e3927-108312<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryRawMaterials">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before valuation and LIFO reserves of raw materials expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.6(a)(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryRawMaterials</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=itp_RecycledPaperBoardMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=itp_RecycledPaperBoardMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=itp_RecycledWhiteScrapPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=itp_RecycledWhiteScrapPaperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=itp_PublicUtilitiesInventoryCoalAndGasMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=itp_PublicUtilitiesInventoryCoalAndGasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=itp_BasePaperAndOtherRawMaterialsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=itp_BasePaperAndOtherRawMaterialsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6612174608">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Prepayments and Other Current Assets (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract', window );"><strong>Summary of prepayments and other current assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PrepaidLandLease', window );">Prepaid land lease</a></td>
<td class="nump">$ 437,114<span></span>
</td>
<td class="nump">$ 459,123<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValueAddedTaxReceivable', window );">Value-added tax recoverable</a></td>
<td class="nump">5,760,280<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherPrepaidExpenseCurrent', window );">Prepayment for purchase of materials</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">183,649<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Others</a></td>
<td class="nump">43,905<span></span>
</td>
<td class="nump">8,751<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Total prepayments and other current assets</a></td>
<td class="nump">$ 6,241,299<span></span>
</td>
<td class="nump">$ 651,523<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_PrepaidLandLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for land lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_PrepaidLandLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherPrepaidExpenseCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for other costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6787-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherPrepaidExpenseCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrentAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValueAddedTaxReceivable">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of value added taxes due either from customers arising from sales on credit terms, or as previously overpaid to tax authorities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValueAddedTaxReceivable</td>
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<td>us-gaap_</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872991712">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Property, Plant and Equipment (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract', window );"><strong>Schedule of property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Totals</a></td>
<td class="nump">$ 258,995,387<span></span>
</td>
<td class="nump">$ 266,687,858<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less: accumulated depreciation and amortization</a></td>
<td class="num">(91,165,671)<span></span>
</td>
<td class="num">(77,299,149)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property, Plant and Equipment, net</a></td>
<td class="nump">167,829,716<span></span>
</td>
<td class="nump">189,388,709<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_UseRightsMember', window );">Land use rights [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract', window );"><strong>Schedule of property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Totals</a></td>
<td class="nump">11,881,571<span></span>
</td>
<td class="nump">12,479,814<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember', window );">Building and improvements [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract', window );"><strong>Schedule of property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Totals</a></td>
<td class="nump">94,127,348<span></span>
</td>
<td class="nump">98,866,703<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember', window );">Machinery and equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract', window );"><strong>Schedule of property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Totals</a></td>
<td class="nump">147,383,943<span></span>
</td>
<td class="nump">118,670,578<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember', window );">Vehicles [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract', window );"><strong>Schedule of property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Totals</a></td>
<td class="nump">597,484<span></span>
</td>
<td class="nump">593,265<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember', window );">Construction in progress [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetByTypeAbstract', window );"><strong>Schedule of property, plant and equipment</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Totals</a></td>
<td class="nump">$ 5,005,041<span></span>
</td>
<td class="nump">$ 36,077,498<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingAndBuildingImprovementsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_VehiclesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6872912240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, Plant and Equipment (Details Textual)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($) </div>
<div>T</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PropertyPlantAndEquipmentTextualAbstract', window );"><strong>Property, plant and equipment (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ProductionCapacityOfManufacturingEquipment', window );">Production capacity of manufacturing equipment PM8 (per year) | T</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments', window );">Assets pledged for guarantee of Dongfang Paper capital lease</a></td>
<td class="nump">$ 5,782,640<span></span>
</td>
<td class="nump">$ 7,963,285<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility', window );">Land use right net values pledged for sale-leaseback financing</a></td>
<td class="nump">5,990,586<span></span>
</td>
<td class="nump">6,437,419<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing', window );">Value of land use right pledged for bank loan</a></td>
<td class="nump">12,939,899<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">14,290,919<span></span>
</td>
<td class="nump">14,633,780<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Impairment loss</a></td>
<td class="nump">$ 3,894,461<span></span>
</td>
<td class="nump">2,291,027<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=itp_LandUseRightsMember', window );">Land use rights [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PropertyPlantAndEquipmentTextualAbstract', window );"><strong>Property, plant and equipment (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SaleLeasebackTransactionLeasePeriod', window );">Term of lease</a></td>
<td class="text">50 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseExpiration', window );">Lease expiration year</a></td>
<td class="text">From 2061 to 2066.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing', window );">Value of land use right pledged for bank loan</a></td>
<td class="nump">$ 4,762,300<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_UseRightsMember', window );">Land use rights [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PropertyPlantAndEquipmentTextualAbstract', window );"><strong>Property, plant and equipment (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SaleLeasebackTransactionLeasePeriod', window );">Term of lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">50 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseExpiration', window );">Lease expiration year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">From 2061 to 2066.<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_LeaseExpiration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Lease expiration.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LeaseExpiration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ProductionCapacityOfManufacturingEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Production capacity of manufacturing equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ProductionCapacityOfManufacturingEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:massItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Property plant and equipment loan drawn from banking facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_PropertyPlantAndEquipmentLoanDrawnFromBankingFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_PropertyPlantAndEquipmentTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_PropertyPlantAndEquipmentTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SaleLeasebackTransactionLeasePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of lease in sale leaseback transaction, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SaleLeasebackTransactionLeasePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of land use right pledged for sale leaseback financing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109226348&amp;loc=d3e2420-110228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount, as of the date of the latest financial statement presented, of other assets which are owned but transferred to serve as collateral for the payment of the related debt obligation, primarily a secured borrowing or repurchase agreement, and for which the transferee is not permitted to sell or re-pledge them to an unrelated party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 860<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (b)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=109249958&amp;loc=SL6224234-111729<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
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<td>debit</td>
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<tr>
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<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=itp_LandUseRightsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=itp_LandUseRightsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_UseRightsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_UseRightsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6874048272">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Loans Payable (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowingsAbstract', window );"><strong>Schedule of short-term bank loans</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Total short-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 11,802,075<span></span>
</td>
<td class="nump">$ 7,192,923<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanOneMember', window );">Industrial and Commercial Bank of China ("ICBC") Loan 1 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowingsAbstract', window );"><strong>Schedule of short-term bank loans</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Total short-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">4,285,145<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanTwoMember', window );">ICBC Loan 2 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowingsAbstract', window );"><strong>Schedule of short-term bank loans</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Total short-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">2,907,778<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_BankOfCangzhouMember', window );">Bank of Cangzhou [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowingsAbstract', window );"><strong>Schedule of short-term bank loans</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Total short-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">5,099,662<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanThreeMember', window );">ICBC Loan 3 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowingsAbstract', window );"><strong>Schedule of short-term bank loans</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Total short-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">4,079,730<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanFourMember', window );">ICBC Loan 4 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBorrowingsAbstract', window );"><strong>Schedule of short-term bank loans</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Total short-term bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="nump">$ 2,622,683<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">On January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January 8, 2018.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">On October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $- and $2,907,778 as of December 31, 2018 and December 31, 2017. The working capital loan is secured by the Company's land use right as collateral for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan was due and repaid on October 12, 2018.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">On January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per annum. The working capital loan is secured by the Company's land use right and guaranteed by the Company's CEO and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on January 3, 2019.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">On February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral for the benefit of the bank. The loan bears a fixed interest rate of 5.4% per annum. The loan was due and repaid on January 28, 2019.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">On November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as of December 31, 2018. The working capital loan is secured by the Company's land use right as collateral for the benefit of the bank. The loan bears a fixed interest rate of 4.741% per annum. The loan will be due on November 26, 2019.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermBankLoansAndNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of borrowings from a bank classified as other, maturing within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermBankLoansAndNotesPayable</td>
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<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermBorrowingsAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermBorrowingsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanOneMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanTwoMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_BankOfCangzhouMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867849040">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Loans Payable (Details 1) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansPayable', window );">Total</a></td>
<td class="nump">$ 7,197,808<span></span>
</td>
<td class="nump">$ 7,560,221<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Less: Current portion of long-term loans from credit union</a></td>
<td class="num">(2,491,549)<span></span>
</td>
<td class="num">(6,366,502)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLoansPayableLongTerm', window );">Long-term loans from credit union</a></td>
<td class="nump">4,706,259<span></span>
</td>
<td class="nump">1,193,719<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanMember', window );">Rural Credit Union of Xushui District Loan 1 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansPayable', window );">Total</a></td>
<td class="nump">1,253,060<span></span>
</td>
<td class="nump">1,316,152<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanOneMember', window );">Rural Credit Union of Xushui District Loan 2 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansPayable', window );">Total</a></td>
<td class="nump">3,642,615<span></span>
</td>
<td class="nump">3,826,022<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanTwoMember', window );">Rural Credit Union of Xushui District Loan 3 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansPayable', window );">Total</a></td>
<td class="nump">$ 2,302,133<span></span>
</td>
<td class="nump">$ 2,418,047<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBankCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of current portion of long-term loans payable to bank due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBankCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermLoansPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermLoansPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLoansPayableLongTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term loans classified as other, payable after one year or the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLoansPayableLongTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6778360816">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Loans Payable (Details 2)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByMaturityAbstract', window );"><strong>Fiscal year</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2019</a></td>
<td class="nump">$ 2,491,549<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2020</a></td>
<td class="nump">131,134<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2021</a></td>
<td class="nump">203,986<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2022</a></td>
<td class="nump">1,602,751<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive', window );">2023</a></td>
<td class="nump">2,768,388<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">Total</a></td>
<td class="nump">$ 7,197,808<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtByMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtByMaturityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the remainder of the fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04.(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>instant</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6890491456">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Loans Payable (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">1 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 21, 2018</div></th>
<th class="th"><div>Feb. 06, 2018</div></th>
<th class="th"><div>Jan. 02, 2018</div></th>
<th class="th"><div>Jan. 10, 2017</div></th>
<th class="th"><div>Jul. 15, 2013</div></th>
<th class="th"><div>Nov. 06, 2018</div></th>
<th class="th"><div>Oct. 18, 2017</div></th>
<th class="th"><div>Apr. 20, 2017</div></th>
<th class="th"><div>Apr. 16, 2014</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Nov. 22, 2018</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Unpaid balance of short term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,802,075<span></span>
</td>
<td class="nump">$ 7,192,923<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsecuredDebt', window );">Unsecured bank loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term debt, Interest rate per month</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoanExtentionPeriod', window );">Loan extension period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_InstallmentRepaymentDescription', window );">Installment repayment description</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Rural Credit Union of Xushui District for a term of 2 years, which is due and payable in various installments from August 26, 2017 to April 19, 2019.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Total outstanding loan balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of total outstanding loan</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,491,549<span></span>
</td>
<td class="nump">6,366,502<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Interest expense for the short-term bank loans and long-term loans</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,214,708<span></span>
</td>
<td class="nump">$ 1,196,814<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateDuringPeriod', window );">Average short-term borrowing rates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.66%<span></span>
</td>
<td class="nump">5.27%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansPayable', window );">Loans from credit union</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,197,808<span></span>
</td>
<td class="nump">$ 7,560,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing', window );">Value of land use right pledged for sale-leaseback financing</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,939,899<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments', window );">Assets pledged for guarantee of Dongfang Paper capital lease</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,782,640<span></span>
</td>
<td class="nump">7,963,285<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=itp_Ruralcreditunionofxushuicountymember1Member', window );">Rural credit union of xushui District member1 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term debt, Interest rate per month</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.64%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Total outstanding loan balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,826,022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of total outstanding loan</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=itp_RuralCreditUnionOfXushuiCountyMember', window );">Rural credit union of xushui District [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoanExtentionPeriod', window );">Loan extension period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_InstallmentRepaymentDescription', window );">Installment repayment description</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The loan was renewed for additional 5 years and will be due and payable in various installments from December 21, 2018 to November 5, 2023.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Rural Credit Union of Xushui District for a term of 5 years, which is payable in various installments from June 21, 2014 to November 18, 2018.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Total outstanding loan balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,302,133<span></span>
</td>
<td class="nump">2,418,047<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of total outstanding loan</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,302,133<span></span>
</td>
<td class="nump">1,224,328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrent', window );">Non-current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,193,719<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanOneMember', window );">ICBC Loan 1 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Unpaid balance of short term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">4,285,145<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate', window );">Short-term bank loans, bore interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.5675%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Loan, maturity date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan.  08,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanTwoMember', window );">ICBC Loan 2 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Unpaid balance of short term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,907,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate', window );">Short-term bank loans, bore interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.945%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Loan, maturity date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Oct. 12,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanThreeMember', window );">ICBC Loan 3 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Unpaid balance of short term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,079,730<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate', window );">Short-term bank loans, bore interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Loan, maturity date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan. 28,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_BankOfCangzhouMember', window );">Bank of Cangzhou [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Unpaid balance of short term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,099,662<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate', window );">Short-term bank loans, bore interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.09%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDate', window );">Loan, maturity date</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan.  03,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanFourMember', window );">ICBC Loan 4 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermBankLoansAndNotesPayable', window );">Unpaid balance of short term debt</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[5]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,622,683<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate', window );">Short-term bank loans, bore interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.741%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyMember', window );">Rural credit union of xushui District [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansPayable', window );">Loans from credit union</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,197,808<span></span>
</td>
<td class="nump">7,560,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itp_NewTermLoansMember', window );">New term loan agreement [Member] | Rural credit union of xushui District [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term debt, Interest rate per month</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.64%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoanExtentionPeriod', window );">Loan extension period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_InstallmentRepaymentDescription', window );">Installment repayment description</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Rural Credit Union of Xushui District for a term of 5 years, which was originally due and payable in various installments from December 21, 2013 to July 26, 2018.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Total outstanding loan balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,642,615<span></span>
</td>
<td class="nump">3,826,022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansFromBank', window );">Non-current portion of total outstanding loan</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,642,615<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition', window );">Security loan agreement by manufacturing equipment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,782,640<span></span>
</td>
<td class="nump">$ 7,963,285<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itp_TermLoansMember', window );">Long-term loan [Member] | Rural credit union of xushui District [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate', window );">Long-term debt, Interest rate per month</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.64%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Total outstanding loan balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,253,060<span></span>
</td>
<td class="nump">$ 1,316,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of total outstanding loan</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,316,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanOneMember', window );">Rural credit union of xushui District member1 [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTextualAbstract', window );"><strong>Loans Payable (Textual)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansPayable', window );">Loans from credit union</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,642,615<span></span>
</td>
<td class="nump">$ 3,826,022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="14"></td></tr>
<tr><td colspan="14"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">On January 10, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,285,145 as of December 31, 2017. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral for the benefit of the bank. The loan bears a fixed interest rate of 4.5675% per annum. The loan was due and repaid on January 8, 2018.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">On October 18, 2017, the Company entered into a working capital loan agreement with the ICBC, with a balance of $- and $2,907,778 as of December 31, 2018 and December 31, 2017. The working capital loan is secured by the Company's land use right as collateral for the benefit of the bank. The loan bears a fixed interest rate of 4.945% per annum. The loan was due and repaid on October 12, 2018.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">On February 6, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $4,079,730 as of December 31, 2018. The working capital loan was guaranteed by Hebei Tengsheng with its land use right pledged as collateral for the benefit of the bank. The loan bears a fixed interest rate of 5.4% per annum. The loan was due and repaid on January 28, 2019.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">On January 2, 2018, the Company entered into a working capital loan agreement with the Bank of Cangzhou. The loan was withdrawn on January 4, 2018, with a balance of $5,099,662 as of December 31, 2018. The loan bears a fixed interest rate of 6.09% per annum. The working capital loan is secured by the Company's land use right and guaranteed by the Company's CEO and Baoding Shengde with its production equipment as collateral for the benefit of the bank. The loan was due and repaid on January 3, 2019.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[5]</td>
<td style="vertical-align: top;" valign="top">On November 22, 2018, the Company entered into a working capital loan agreement with the ICBC, with a balance of $2,622,683 as of December 31, 2018. The working capital loan is secured by the Company's land use right as collateral for the benefit of the bank. The loan bears a fixed interest rate of 4.741% per annum. The loan will be due on November 26, 2019.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_InstallmentRepaymentDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description regarding repayment of installment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_InstallmentRepaymentDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_LoanExtentionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period for which loan extended by the company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LoanExtentionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_LoansPayableTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LoansPayableTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of land use right pledged for sale leaseback financing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ValueOfLandUseRightPledgedForSaleLeasebackFinancing</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average effective interest rate during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28551-108399<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=99377789&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109500613&amp;loc=SL6036836-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation due after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 201.5-02(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 201.5-02(26))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 201.5-02(24))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the normal operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(16)(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBankCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of current portion of long-term loans payable to bank due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBankCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtPercentageBearingFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a set, unchanging rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtPercentageBearingFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermLoansFromBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the operating cycle if longer, excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermLoansFromBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermLoansPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermLoansPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount, as of the date of the latest financial statement presented, of all assets that are pledged as collateral for the payment of the related debt obligation primarily arising from secured borrowings, repurchase agreements or other current or potential obligations, where the secured party does not have the right by contract or custom to sell or re-pledge the collateral and therefore are not reclassified and separately reported in the statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 860<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (b)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=109249958&amp;loc=SL6224234-111729<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PledgedAssetsNotSeparatelyReportedOnStatementOfFinancialPosition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount, as of the date of the latest financial statement presented, of other assets which are owned but transferred to serve as collateral for the payment of the related debt obligation, primarily a secured borrowing or repurchase agreement, and for which the transferee is not permitted to sell or re-pledge them to an unrelated party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 860<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (b)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=109249958&amp;loc=SL6224234-111729<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PledgedAssetsNotSeparatelyReportedOtherFinancialInstruments</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of borrowings from a bank classified as other, maturing within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermBankLoansAndNotesPayable</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of the carrying amount of short-term borrowings outstanding as of the balance sheet date which accrues interest at a set, unchanging rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtPercentageBearingFixedInterestRate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnsecuredDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnsecuredDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=itp_Ruralcreditunionofxushuicountymember1Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=itp_RuralCreditUnionOfXushuiCountyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=itp_RuralCreditUnionOfXushuiCountyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanOneMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanTwoMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanThreeMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_BankOfCangzhouMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_IndustrialAndCommercialBankOfChinaLoanFourMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itp_NewTermLoansMember</td>
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<tr>
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<td></td>
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<tr>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itp_TermLoansMember</td>
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<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=itp_RuralCreditUnionOfXushuiCountyLoanOneMember</td>
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<th class="th" colspan="1"></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Accrued interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 548,684<span></span>
</td>
<td class="nump">$ 548,684<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRelatedPartyDebt', window );">Proceeds from shareholders loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,522,295<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Accrued rental owned to Hebei Fangsheng</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">413,336<span></span>
</td>
<td class="nump">60,378<span></span>
</td>
<td class="nump">60,378<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfRelatedPartyDebt', window );">Repayment of related party loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,813,169<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedParties', window );">Due to shareholder</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">210,148<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent', window );">Loans payable to related party</a></td>
<td class="nump">$ 2,883,091<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,484,555<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,324,636<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTerm', window );">Term of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansFromBank', window );">Outstanding loan balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,185,569<span></span>
</td>
<td class="nump">7,652,047<span></span>
</td>
<td class="nump">7,652,047<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_UnsecuredLoanExpirationDate', window );">Loan matures date</a></td>
<td class="text">Jul. 12,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Accrued interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,253<span></span>
</td>
<td class="nump">110,476<span></span>
</td>
<td class="nump">110,476<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember', window );">CEO [Member] | RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent', window );">Loans payable to related party | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 120,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_MrZhenyongLiuMember', window );">Mr Zhenyong Liu [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ProceedsFromPaymentsToLoan', window );">Loan paid off</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,249,279<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent', window );">Loans payable to related party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,185,569<span></span>
</td>
<td class="nump">10,712,865<span></span>
</td>
<td class="nump">10,712,865<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LoansPayableTerm', window );">Term of loan</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionRate', window );">Interest rate on loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansFromBank', window );">Outstanding loan balance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">3,060,818<span></span>
</td>
<td class="nump">3,060,818<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_UnsecuredLoanExpirationDate', window );">Loan matures date</a></td>
<td class="text">Jul. 12,  2021<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Accrued interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,711<span></span>
</td>
<td class="nump">45,912<span></span>
</td>
<td class="nump">45,912<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseRelatedParty', window );">Loan from related parties, interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">277,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">451,626<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 288,596<span></span>
</td>
<td class="nump">$ 391,374<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfRelatedPartyDebt', window );">Repayment of related party loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,014,863<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,012,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeFinanceLeaseRenewalTerm1', window );">Lease term renewed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember', window );">Hebei Fangsheng [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRent', window );">Rental payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150,743<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_AssetLeaseTerm', window );">Industrial building lease term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NumberOfDormitoryBuildings', window );">Number of dormitory buildings | Employee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SalePriceOfLandUseRights', window );">Sale price of industrial land use rights</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,770,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SalePriceOfIndustrialBuilding', window );">Sale price of industrial building</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseExpirationDate1', window );">Lease expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 31,  2016<span></span>
</td>
<td class="text">Aug. 31,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SalePriceOfDormitoryBuildings', window );">Sale price of dormitory buildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,310,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseTermExtended', window );">Lease term extend</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">4 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember', window );">Hebei Fangsheng [Member] | RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRent', window );">Rental payment | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=itp_DongfangPaperMember', window );">Dongfang Paper [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeFinanceLeaseRenewalTerm1', window );">Lease term renewed</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=itp_DongfangPaperMember', window );">Dongfang Paper [Member] | Mr Zhenyong Liu [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_RelatedPartyTransactionsTextualAbstract', window );"><strong>Related Party Transactions (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ProceedsFromPaymentsToLoan', window );">Loan paid off</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 158,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent', window );">Loans payable to related party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,742,278<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_UnsecuredLoanExpirationDate', window );">Loan matures date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 10,  2017<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPayableCurrent', window );">Accrued interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesNoncurrent', window );">Other payables and accrued liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 373,490<span></span>
</td>
<td class="nump">$ 392,296<span></span>
</td>
<td class="nump">$ 392,296<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfRelatedPartyDebt', window );">Repayment of related party loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,768,579<span></span>
</td>
<td class="nump">$ 1,507,432<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_AssetLeaseTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Asset lease term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_AssetLeaseTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_LeaseTermExtended">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Lease term extended.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LeaseTermExtended</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_LoansPayableTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Duration of loans payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LoansPayableTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_NumberOfDormitoryBuildings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of dormitory buildings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NumberOfDormitoryBuildings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ProceedsFromPaymentsToLoan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of loan paid off.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ProceedsFromPaymentsToLoan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_RelatedPartyTransactionsTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_RelatedPartyTransactionsTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SalePriceOfDormitoryBuildings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dormitory buildings sale price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SalePriceOfDormitoryBuildings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SalePriceOfIndustrialBuilding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sale price of industrial building.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SalePriceOfIndustrialBuilding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SalePriceOfLandUseRights">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sale price of land use rights.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SalePriceOfLandUseRights</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_UnsecuredLoanExpirationDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unsecured loan expiration date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_UnsecuredLoanExpirationDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from related parties including affiliates, employees, joint ventures, officers and stockholders, immediate families thereof, and pension funds.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense incurred on a debt or other obligation to related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, including, but not limited to, capitalized interest and payment to settle zero-coupon bond attributable to accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount; classified as operating and investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e7018-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date which lease or group of leases is set to expire, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseExpirationDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeFinanceLeaseRenewalTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Term of lessee's finance lease renewal, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 842<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=77888426&amp;loc=SL77918673-209980<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeFinanceLeaseRenewalTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermLoansFromBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the operating cycle if longer, excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermLoansFromBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred but not yet paid classified as other, due after one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash payments to lessor's for use of assets under operating leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRelatedPartyDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a long-term borrowing made from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Proceeds from Advances from Affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Receivables to be collected from (obligations owed to) related parties, net as of the balance sheet date within one year where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionDueFromToRelatedPartyCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identify the stated interest rate per the agreement, for example, leasing and debt arrangements between related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfRelatedPartyDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfRelatedPartyDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TitleOfIndividualAxis=us-gaap_ChiefExecutiveOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_TypeOfCurrencyAxis=itp_RMBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_TypeOfCurrencyAxis=itp_RMBMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_MrZhenyongLiuMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_MrZhenyongLiuMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=itp_HebeiFangshengRealEstateDevelopmentCompanyLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=itp_DongfangPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=itp_DongfangPaperMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<head>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6873020944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Notes Payable (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NotesPayableTextualAbstract', window );"><strong>Notes Payable (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Notes payable</a></td>
<td class="nump">$ 3,642,616<span></span>
</td>
<td class="nump">$ 6,121,637<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">$ 3,642,616<span></span>
</td>
<td class="nump">$ 6,121,637<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=itp_BankOfCangzhouMember', window );">Bank of Cangzhou [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NotesPayableTextualAbstract', window );"><strong>Notes Payable (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate', window );">Bank acceptance notes from bank, interest rate</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_HandlingChargesOfBankAcceptanceNotesPercentage', window );">Handling charges of bank acceptance notes percentage</a></td>
<td class="nump">0.05%<span></span>
</td>
<td class="nump">0.05%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentMaturityDateDescription', window );">Description of maturity of notes payable</a></td>
<td class="text">The acceptance notes were due and paid off in January 2019.<span></span>
</td>
<td class="text">The acceptance notes were due and paid off in January 2018.<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_HandlingChargesOfBankAcceptanceNotesPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Handling charges of bank acceptance notes percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_HandlingChargesOfBankAcceptanceNotesPercentage</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_NotesPayableTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NotesPayableTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentMaturityDateDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the maturity date of the debt instrument including whether the debt matures serially and, if so, a brief description of the serial maturities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentMaturityDateDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents restricted as to withdrawal or usage, classified as current. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=98513485&amp;loc=SL98516268-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermDebtPercentageBearingFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of the carrying amount of short-term borrowings outstanding as of the balance sheet date which accrues interest at a set, unchanging rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermDebtPercentageBearingFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=itp_BankOfCangzhouMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=itp_BankOfCangzhouMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867015968">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Payables and Accrued Liabilities (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract', window );"><strong>Summary of other payables and accrued liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedUtilitiesCurrent', window );">Accrued electricity</a></td>
<td class="nump">$ 186,780<span></span>
</td>
<td class="nump">$ 2,862<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ValueAddedTaxesPayableCurrent', window );">Value-added tax payable</a></td>
<td class="nump">520,190<span></span>
</td>
<td class="nump">196,395<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued interest to a related party</a></td>
<td class="nump">617,454<span></span>
</td>
<td class="nump">548,684<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableOtherCurrent', window );">Payable for purchase of equipment</a></td>
<td class="nump">8,788,924<span></span>
</td>
<td class="nump">49,585<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedSalesCommissionCurrent', window );">Accrued commission to salesmen</a></td>
<td class="nump">62,247<span></span>
</td>
<td class="nump">16,992<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Others</a></td>
<td class="nump">47,201<span></span>
</td>
<td class="nump">21,819<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent', window );">Totals</a></td>
<td class="nump">$ 10,222,796<span></span>
</td>
<td class="nump">$ 836,337<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SummaryOfOtherPayablesAndAccruedLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
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<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ValueAddedTaxesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value added taxes payable, current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ValueAddedTaxesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities incurred to vendors for goods and services received, and accrued liabilities classified as other, payable within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndOtherAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableOtherCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligations incurred classified as other, payable within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableOtherCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedSalesCommissionCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for sales commissions. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedSalesCommissionCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedUtilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for utilities, such as electrical power, heating oil, natural gas, and water. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedUtilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6911-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e7018-107765<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6935-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6888032624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Common Stock (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="4">1 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jan. 12, 2016 </div>
<div>USD ($) </div>
<div>Employee </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Aug. 27, 2014 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Nov. 12, 2018 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 15, 2018 </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 13, 2018 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_InvestorMember', window );">Investors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommonStockTextualAbstract', window );"><strong>Common Stock (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Issuance of common stock and warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,562,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_WarrantsToPurchaseOfCommonStock', window );">Warrants to purchase of common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">781,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1.60<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_WeitianGroupLccMember', window );">Weitian Group LCC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommonStockTextualAbstract', window );"><strong>Common Stock (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Issuance of common stock and warrants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.87<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross', window );">Shares of common stock under compensatory incentive plans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross', window );">Total fair value of stock of grant | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 32,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itp_TwoThousandTwelveIncentiveStockPlanMember', window );">2012 Incentive Stock Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommonStockTextualAbstract', window );"><strong>Common Stock (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross', window );">Shares of common stock under compensatory incentive plans</a></td>
<td class="nump">168,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross', window );">Total fair value of stock of grant | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 790,020<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itp_TwoThousandFifteenIncentiveStockPlanMember', window );">2015 Omnibus Equity Incentive [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommonStockTextualAbstract', window );"><strong>Common Stock (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share price | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross', window );">Shares of common stock under compensatory incentive plans</a></td>
<td class="nump">965,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross', window );">Total fair value of stock of grant | $</a></td>
<td class="nump">$ 1,417,395<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 470,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itp_CompensatoryIncentivePlansMember', window );">Compensatory Incentive Plans [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommonStockTextualAbstract', window );"><strong>Common Stock (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share price | $ / shares</a></td>
<td class="nump">$ 1.25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross', window );">Shares of common stock under compensatory incentive plans</a></td>
<td class="nump">1,133,916<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">534,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NumberOfOfficers', window );">Number of officers | Employee</a></td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross', window );">Total fair value of stock of grant | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 470,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_CommonStockTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_CommonStockTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_NumberOfOfficers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of officers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_NumberOfOfficers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_WarrantsToPurchaseOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued for warrant to purchase of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_WarrantsToPurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value, before forfeitures, of stock or other type of equity granted of any equity-based compensation plan other than an employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP). Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensationGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_InvestorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_InvestorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_WeitianGroupLccMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_WeitianGroupLccMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itp_TwoThousandTwelveIncentiveStockPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itp_TwoThousandTwelveIncentiveStockPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itp_TwoThousandFifteenIncentiveStockPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itp_TwoThousandFifteenIncentiveStockPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itp_CompensatoryIncentivePlansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itp_CompensatoryIncentivePlansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6770811424">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Warrants (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2018</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember', window );">Date of Issuance August 27, 2014 to September 2, 2019 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockWarrantsLineItems', window );"><strong>Stock Warrants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionExpectedTerm', window );">Terms of warrants</a></td>
<td class="text">5 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">72.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionRiskFreeInterestRate', window );">Risk-free interest rate</a></td>
<td class="nump">1.69%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionExpectedDividendRate', window );">Expected dividend yield</a></td>
<td class="nump">0.81%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember', window );">Date of Issuance September 3, 2014 to June 26, 2019 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockWarrantsLineItems', window );"><strong>Stock Warrants [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionExpectedTerm', window );">Terms of warrants</a></td>
<td class="text">4 years 9 months 22 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">69.80%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionRiskFreeInterestRate', window );">Risk-free interest rate</a></td>
<td class="nump">1.62%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FairValueAssumptionExpectedDividendRate', window );">Expected dividend yield</a></td>
<td class="nump">0.81%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_FairValueAssumptionExpectedDividendRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected dividends to be paid to holders of the underlying shares or financial instruments (expressed as a percentage of the share or instrument's price).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_FairValueAssumptionExpectedDividendRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_FairValueAssumptionExpectedTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period the instrument, asset or liability is expected to be outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_FairValueAssumptionExpectedTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_FairValueAssumptionExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Measure of dispersion, in percentage terms (for instance, the standard deviation or variance), for a given stock price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_FairValueAssumptionExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_FairValueAssumptionRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Risk-free interest rate assumption used in valuing an instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_FairValueAssumptionRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_StockWarrantsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Stock warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_StockWarrantsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=itp_DateOfIssuanceTwentySeventhAugustTwoThousandFourteenToTwoSeptemberTwoThousandNineteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=itp_DateOfIssuanceThreeSeptemberTwoThousandFourteenToTwentySixJuneTwoThousandNineteenMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6862760992">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Warrants (Details 1) - Warrant [Member] - $ / shares<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Number</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding and exercisable at beginning of the year</a></td>
<td class="nump">820,312<span></span>
</td>
<td class="nump">820,312<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Issued during the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised during the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod', window );">Cancelled or expired during the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding and exercisable at end of the year</a></td>
<td class="nump">820,312<span></span>
</td>
<td class="nump">820,312<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weight average exercise price</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding and exercisable at beginning of the year</a></td>
<td class="nump">$ 1.71<span></span>
</td>
<td class="nump">$ 1.71<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Issued during the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised during the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice', window );">Cancelled or expired during the year</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding and exercisable at end of the year</a></td>
<td class="nump">1.71<span></span>
</td>
<td class="nump">1.71<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit', window );">Range of exercise price, lower range limit</a></td>
<td class="nump">1.70<span></span>
</td>
<td class="nump">1.70<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit', window );">Range of exercise price, upper range limit</a></td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="nump">$ 2.00<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price of options that were either forfeited or expired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)-(4)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The floor of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The ceiling of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_WarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_WarrantMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6660453520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Warrants (Details Textual) - Warrant [Member] - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Aug. 27, 2014</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockWarrantsTextualAbstract', window );"><strong>Stock Warrants (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Issuance of common stock and warrants</a></td>
<td class="nump">1,562,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommonStockIssuedToPurchaseStock', window );">Warrants to purchase shares of common stock</a></td>
<td class="nump">781,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentWarrantsExercisePrice', window );">Exercise price</a></td>
<td class="nump">$ 1.70<span></span>
</td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_WarrantsExercisableTerm', window );">Warrants exercisable term</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleOfStockConsiderationReceivedPerTransaction', window );">Fair value of common stock sold</a></td>
<td class="nump">$ 780,000<span></span>
</td>
<td class="nump">$ 35,191<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_AggregatePercentageOfCommonStockSoldUnderOffering', window );">Aggregate percentage of common stock sold under offering</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction', window );">Aggregate number of shares of common stock sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,062<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentWarrantsExpirationDate', window );">Warrants expiration date</a></td>
<td class="text">Sep.  02,  2019<span></span>
</td>
<td class="text">Jun. 26,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding', window );">Aggregated intrinsic value of warrants outstanding and exercisable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
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</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentWarrantsExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Exercise price of the warrants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Sentence Column A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentWarrantsExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentWarrantsExpirationDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expiration date of warrants held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Sentence Column A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentWarrantsExpirationDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>invest_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_AggregatePercentageOfCommonStockSoldUnderOffering">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate percentage of common stock sold under offering.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_AggregatePercentageOfCommonStockSoldUnderOffering</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common stock issued to purchase stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_CommonStockIssuedToPurchaseStock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_StockWarrantsTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Stock Warrants textual.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_StockWarrantsTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_WarrantsExercisableTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Warrants exercisable term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_WarrantsExercisableTerm</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleOfStockConsiderationReceivedPerTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration received by subsidiary or equity investee in exchange for shares of stock issued or sold. Includes amount of cash received, fair value of noncash assets received, and fair value of liabilities assumed by the investor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleOfStockConsiderationReceivedPerTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued or sold by the subsidiary or equity method investee per stock transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Intrinsic value of equity-based compensation awards outstanding. Excludes stock and unit options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21463-112644<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_WarrantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">$ (5,164,440)<span></span>
</td>
<td class="num">$ (1,404,962)<span></span>
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<td class="nump">$ 109,994<span></span>
</td>
<td class="num">$ (4,086,276)<span></span>
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<td class="num">$ (1,636,333)<span></span>
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<td class="nump">$ 1,572,335<span></span>
</td>
<td class="nump">$ 15,917<span></span>
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<td class="nump">$ 1,707,869<span></span>
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<td class="num">$ (10,545,684)<span></span>
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<td class="nump">$ 1,659,788<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">21,618,305<span></span>
</td>
<td class="nump">21,450,316<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Net (loss) income per share</a></td>
<td class="num">$ (0.24)<span></span>
</td>
<td class="num">$ (0.07)<span></span>
</td>
<td class="nump">$ 0.005<span></span>
</td>
<td class="num">$ (0.19)<span></span>
</td>
<td class="num">$ (0.076)<span></span>
</td>
<td class="nump">$ 0.07<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.49)<span></span>
</td>
<td class="nump">$ 0.08<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net (loss) income for the year - numerator</a></td>
<td class="num">$ (5,164,440)<span></span>
</td>
<td class="num">$ (1,404,962)<span></span>
</td>
<td class="nump">$ 109,994<span></span>
</td>
<td class="num">$ (4,086,276)<span></span>
</td>
<td class="num">$ (1,636,333)<span></span>
</td>
<td class="nump">$ 1,572,335<span></span>
</td>
<td class="nump">$ 15,917<span></span>
</td>
<td class="nump">$ 1,707,869<span></span>
</td>
<td class="num">$ (10,545,684)<span></span>
</td>
<td class="nump">$ 1,659,788<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_WeightedAverageNumberOfSharesOutstandingDilutedGross', window );">Weighted average common stock outstanding - denominator</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,618,305<span></span>
</td>
<td class="nump">21,450,316<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment', window );">Effect of dilution</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average common stock outstanding - denominator</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,618,305<span></span>
</td>
<td class="nump">21,450,316<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (loss) income per share</a></td>
<td class="num">$ (0.24)<span></span>
</td>
<td class="num">$ (0.07)<span></span>
</td>
<td class="nump">$ 0.005<span></span>
</td>
<td class="num">$ (0.19)<span></span>
</td>
<td class="num">$ (0.076)<span></span>
</td>
<td class="nump">$ 0.07<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.49)<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_WeightedAverageNumberOfSharesOutstandingDilutedGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average number of shares outstanding, diluted, Gross.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_WeightedAverageNumberOfSharesOutstandingDilutedGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1337-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=109256448&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1252-109256<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=SL5780133-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=109256448&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDilutedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDilutedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1505-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1448-109256<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</DOCUMENT>
<DOCUMENT>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876656896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings Per Share (Details Textual) - shares<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_EarningsLossPerShareTextualAbstract', window );"><strong>Earnings Per Share (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Warrants shares are excluded from calculations of dilutive net income per share</a></td>
<td class="nump">820,312<span></span>
</td>
<td class="nump">820,312<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_EarningsLossPerShareTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_EarningsLossPerShareTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R70.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6876581952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Provision for Income Taxes</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentForeignTaxExpenseBenefit', window );">Current Tax Provision U.S.</a></td>
<td class="nump">$ 8,189<span></span>
</td>
<td class="nump">$ 6,528<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Current Tax Provision PRC</a></td>
<td class="nump">230,322<span></span>
</td>
<td class="nump">3,519,311<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred Tax Provision PRC</a></td>
<td class="num">(2,089,439)<span></span>
</td>
<td class="num">(3,010,577)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Total Provision for (Deferred tax benefit)/ Income Taxes</a></td>
<td class="num">$ (1,850,928)<span></span>
</td>
<td class="nump">$ 662,828<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentForeignTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentForeignTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6877260016">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Income Taxes (Details 1) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_DeferredTaxAssetsLiabilitiesCurrentAbstract', window );"><strong>Deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_DeferredTaxAssetsDepreciationOfAmortizationPropertyPlantAndEquipmentCurrent', window );">Depreciation and amortization of property, plant and equipment</a></td>
<td class="nump">$ 7,097,828<span></span>
</td>
<td class="nump">$ 5,123,762<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_DeferredTaxAssetsImpairmentOfAmortizationPropertyPlantAndEquipmentCurrent', window );">Impairment of property, plant and equipment</a></td>
<td class="nump">546,531<span></span>
</td>
<td class="nump">440,080<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_DeferredTaxAssetsMiscellaneousCurrent', window );">Miscellaneous</a></td>
<td class="nump">289,799<span></span>
</td>
<td class="nump">712,517<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic', window );">Net operating loss carryover of PRC company</a></td>
<td class="nump">342,933<span></span>
</td>
<td class="nump">296,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsForeign', window );">Net operating loss carryover for U.S. income tax purposes</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsGross', window );">Total deferred tax assets</a></td>
<td class="nump">8,277,091<span></span>
</td>
<td class="nump">6,572,559<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsValuationAllowance', window );">Less: Valuation allowance</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent', window );">Total deferred tax assets, net</a></td>
<td class="nump">$ 8,277,091<span></span>
</td>
<td class="nump">$ 6,572,559<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_DeferredTaxAssetsDepreciationOfAmortizationPropertyPlantAndEquipmentCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax assets depreciation of amortization property plant and equipment current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_DeferredTaxAssetsDepreciationOfAmortizationPropertyPlantAndEquipmentCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_DeferredTaxAssetsImpairmentOfAmortizationPropertyPlantAndEquipmentCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax assets impairment of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_DeferredTaxAssetsImpairmentOfAmortizationPropertyPlantAndEquipmentCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_DeferredTaxAssetsLiabilitiesCurrentAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred tax asset Miscellaneous.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_DeferredTaxAssetsMiscellaneousCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31917-109318<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84176650&amp;loc=d3e31931-109318<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible domestic operating loss carryforwards. Excludes state and local operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115928272&amp;loc=d3e28680-109314<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsDomestic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsForeign">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before allocation of valuation allowances of deferred tax asset attributable to deductible foreign operating loss carryforwards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32621-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32632-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 25<br> -Paragraph 20<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115928272&amp;loc=d3e28680-109314<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsOperatingLossCarryforwardsForeign</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885576672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details 2)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract', window );"><strong>Schedule of reconciliation of statutory rates to Company's effective tax rate</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">PRC Statutory rate</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja', window );">Effect of the U.S. Transition Tax under the 2017 TCJA</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">8.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential', window );">Effect of different tax jurisdiction</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(0.80%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_EffectOfExpensesNotDeductibleForPrcTaxPurposes', window );">Effect of expenses not deductible for PRC tax purposes</a></td>
<td class="nump">31.30%<span></span>
</td>
<td class="num">(6.20%)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate', window );">(Over) Underprovision in previous year</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(1.10%)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance', window );">Change in valuation allowance</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent', window );">Other</a></td>
<td class="nump">38.70%<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective income tax rate</a></td>
<td class="nump">17.60%<span></span>
</td>
<td class="nump">28.50%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_EffectOfExpensesNotDeductibleForPrcTaxPurposes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_EffectOfExpensesNotDeductibleForPrcTaxPurposes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_EffectOfTheUsTransitionTaxUnderTheTwoThousandSeventeenTcja</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the income tax rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference, between reported income tax expense (benefit) and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations, that is attributable to tax exempt income, equity in earnings (loss) of an unconsolidated subsidiary, minority interest income (expense), tax holiday, disposition of a business, disposition of an asset, repatriation of foreign earnings, repatriation of foreign earnings jobs creation act of 2004, change in enacted tax rate, prior year income taxes, change in deferred tax asset valuation allowance, and other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6885679376">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
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<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
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<th class="th"><div>Dec. 31, 2017</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_IncomeTaxesTextualAbstract', window );"><strong>Income Taxes (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Statutory tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective income tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17.60%<span></span>
</td>
<td class="nump">28.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_IncomeTaxStatuteOfLimitationsPeriod', window );">Income tax, statute of limitations period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,850,928)<span></span>
</td>
<td class="nump">$ 662,828<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_FederalTaxationCashProvided', window );">Federal taxation cash provided</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,528<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_DescriptionOfCarryForwardsExpire', window );">Description of carry forwards expire</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">These carry forwards would expire, if not utilized, beginning in 2030.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=country_US', window );">United States [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_IncomeTaxesTextualAbstract', window );"><strong>Income Taxes (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Statutory tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes', window );">State tax rates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
<td class="nump">$ 80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationOtherAdjustments', window );">Additional income tax expense</a></td>
<td class="nump">80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxAuthorityAxis=country_CN', window );">PRC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_IncomeTaxesTextualAbstract', window );"><strong>Income Taxes (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Statutory tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLossCarryforwards', window );">Net operating losses</a></td>
<td class="nump">$ 7,119,918<span></span>
</td>
<td class="nump">$ 8,024,104<span></span>
</td>
<td class="nump">$ 7,119,918<span></span>
</td>
<td class="nump">$ 7,119,918<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_IncomeTaxesTextualAbstract', window );"><strong>Income Taxes (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective income tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_IncomeTaxesTextualAbstract', window );"><strong>Income Taxes (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Effective income tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_DescriptionOfCarryForwardsExpire">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of carry forwards expire.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_DescriptionOfCarryForwardsExpire</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_FederalTaxationCashProvided">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Federal taxation cash provided.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_FederalTaxationCashProvided</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_IncomeTaxStatuteOfLimitationsPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income tax statute of limitation period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_IncomeTaxStatuteOfLimitationsPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_IncomeTaxesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Income taxes textual.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_IncomeTaxesTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32698-109319<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32687-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationOtherAdjustments</td>
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<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=84230637&amp;loc=d3e32559-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_IncomeTaxAuthorityAxis=country_CN</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6886765408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Incentive Plans (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 12, 2016</div></th>
<th class="th"><div>Sep. 13, 2018</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
<th class="th"><div>Aug. 28, 2011</div></th>
<th class="th"><div>Aug. 29, 2015</div></th>
<th class="th"><div>Sep. 10, 2012</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itp_TwoThousandFifteenIncentiveStockPlanMember', window );">2015 ISP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockIncentivePlanTextualAbstract', window );"><strong>Stock Incentive Plans (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Number of shares authorized for issuance under stock incentive plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">534,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod', window );">Shares issued under incentive stock plan</a></td>
<td class="nump">965,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_UnrestrictedCommonShares', window );">Un-restricted common shares</a></td>
<td class="nump">1,133,916<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.88<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross', window );">Total fair value of stock of grant</a></td>
<td class="nump">$ 1,417,395<span></span>
</td>
<td class="nump">$ 470,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itp_TwoThousandTwelveIncentiveStockPlanMember', window );">2012 ISP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockIncentivePlanTextualAbstract', window );"><strong>Stock Incentive Plans (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Number of shares authorized for issuance under stock incentive plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,000<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod', window );">Shares issued under incentive stock plan</a></td>
<td class="nump">168,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">31,584<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross', window );">Total fair value of stock of grant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 790,020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ShareBasedCompensationRestrictedCommonSharesGranted', window );">Restricted common shares granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">297,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itp_TwoThousandElevenIncentiveStockPlanMember', window );">2011 ISP [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_StockIncentivePlanTextualAbstract', window );"><strong>Stock Incentive Plans (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Number of shares authorized for issuance under stock incentive plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">375,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod', window );">Shares issued under incentive stock plan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">265,416<span></span>
</td>
<td class="nump">109,584<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.66<span></span>
</td>
<td class="nump">$ 3.45<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross', window );">Total fair value of stock of grant</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 378,065<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ShareBasedCompensationRestrictedCommonSharesGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sahres of restricted common shares granted for the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ShareBasedCompensationRestrictedCommonSharesGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_StockIncentivePlanTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_StockIncentivePlanTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_UnrestrictedCommonShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrestricted common shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_UnrestrictedCommonShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share instruments newly issued under a share-based compensation plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109197908&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value, before forfeitures, of stock or other type of equity granted of any equity-based compensation plan other than an employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockGrantedDuringPeriodValueSharebasedCompensationGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itp_TwoThousandFifteenIncentiveStockPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itp_TwoThousandFifteenIncentiveStockPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itp_TwoThousandTwelveIncentiveStockPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itp_TwoThousandTwelveIncentiveStockPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itp_TwoThousandElevenIncentiveStockPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itp_TwoThousandElevenIncentiveStockPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>102
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6711303648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments and Contingencies (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract', window );"><strong>Schedule of future minimum lease payments of all operating leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent', window );">2019</a></td>
<td class="nump">$ 542,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears', window );">2020</a></td>
<td class="nump">542,021<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears', window );">2021</a></td>
<td class="nump">542,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears', window );">2022</a></td>
<td class="nump">542,021<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears', window );">2023</a></td>
<td class="nump">542,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter', window );">Thereafter</a></td>
<td class="nump">2,194,312<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue', window );">Total operating lease payments</a></td>
<td class="nump">$ 4,904,417<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td>credit</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41502-112717<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=82846649&amp;loc=d3e38371-112697<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter</td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6887747008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Details Textual)<br></strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th">
<div>Nov. 27, 2012 </div>
<div>USD ($) </div>
<div>a</div>
</th>
<th class="th">
<div>Nov. 27, 2012 </div>
<div>CNY (&#165;) </div>
<div>a</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($) </div>
<div>a</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>CNY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>CNY (&#165;) </div>
<div>a</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>CNY (&#165;)</div>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets', window );">Outstanding commitments for construction of equipment and facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,300,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,227,896<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription', window );">Performance holdback on new tissue paper payment, description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Company expected to pay off all the balances within 1 year.<span></span>
</td>
<td class="text">The Company expected to pay off all the balances within 1 year.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term loan from financial institutions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,516,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,159,459<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtDescription', window );">Long-term loan maturity, description</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">The Company guaranteed its long-term loan from financial institutions amounting to $4,516,843 (RMB31,000,000) and $8,159,459 (RMB56,000,000) that matured at various times in 2023.<span></span>
</td>
<td class="text">The Company guaranteed its long-term loan from financial institutions amounting to $4,516,843 (RMB31,000,000) and $8,159,459 (RMB56,000,000) that matured at various times in 2023.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_TypeOfCurrencyAxis=itp_RMBMember', window );">RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term loan from financial institutions | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 31,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 56,000,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_InvestmentCompanyMember', window );">Investment company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfLand', window );">Area of land | a</a></td>
<td class="nump">49.4<span></span>
</td>
<td class="nump">49.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseExpirationPeriod', window );">Lease expiration period</a></td>
<td class="text">15 years<span></span>
</td>
<td class="text">15 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating lease annual rental payment</a></td>
<td class="nump">$ 542,675<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_InvestmentCompanyMember', window );">Investment company [Member] | RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating lease annual rental payment | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 3,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_LocalGovernmentMember', window );">Local government [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfLand', window );">Area of land | a</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32.95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32.95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseExpirationPeriod', window );">Lease expiration period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">30 years<span></span>
</td>
<td class="text">30 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseExpirationDate1', window );">Lease expiration date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Dec. 31,  2031<span></span>
</td>
<td class="text">Dec. 31,  2031<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating lease annual rental payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_LocalGovernmentMember', window );">Local government [Member] | RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating lease annual rental payment | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 120,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_HebeiFangshengMember', window );">Hebei Fangsheng [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_LeaseExpirationPeriod', window );">Lease expiration period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating lease annual rental payment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150,743<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_HebeiFangshengMember', window );">Hebei Fangsheng [Member] | RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CommitmentsAndContingenciesTextualAbstract', window );"><strong>Commitments and Contingencies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating lease annual rental payment | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_CommitmentsAndContingenciesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_CommitmentsAndContingenciesTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commitments for purchase or construction of capital assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_CommitmentsForPurchaseOrConstructionOfCapitalAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_LeaseExpirationPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Lease expiration period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_LeaseExpirationPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Performance holdback on new tissue paper payment description.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_PerformanceHoldbackOnNewTissuePaperPaymentDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfLand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of land held.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfLand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date which lease or group of leases is set to expire, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseExpirationDate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=109500613&amp;loc=SL6031897-161870<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of long-term debt arrangements, which are debt arrangements that originally require full repayment more than twelve months after issuance or greater than the normal operating cycle of the company, if longer, and disclosures pertaining to the underlying arrangements, including repayment terms, conversion features, interest rates, restrictions on assets and activities, debt covenants, and other matters important to users of the financial statements. Types of long-term debt arrangements include borrowing under notes payable, bonds payable, debentures, term loans, and other contractual obligations for payment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=109259400&amp;loc=d3e21475-112644<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtDescription</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesRentExpenseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=77902758&amp;loc=d3e41499-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesRentExpenseNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_TypeOfCurrencyAxis=itp_RMBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_TypeOfCurrencyAxis=itp_RMBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_InvestmentCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_InvestmentCompanyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_LocalGovernmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itp_HebeiFangshengMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6890374592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Reporting (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SummarizedFinancialInformationForReportableSegmentsAbstract', window );"><strong>Summarized financial information for reportable segments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 24,985,717<span></span>
</td>
<td class="nump">$ 26,723,657<span></span>
</td>
<td class="nump">$ 33,149,190<span></span>
</td>
<td class="nump">$ 1,888,194<span></span>
</td>
<td class="nump">$ 35,439,183<span></span>
</td>
<td class="nump">$ 33,507,053<span></span>
</td>
<td class="nump">$ 22,787,683<span></span>
</td>
<td class="nump">$ 25,289,659<span></span>
</td>
<td class="nump">$ 86,746,758<span></span>
</td>
<td class="nump">$ 117,023,578<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="nump">2,240,944<span></span>
</td>
<td class="nump">1,259,343<span></span>
</td>
<td class="nump">3,015,422<span></span>
</td>
<td class="num">(695,308)<span></span>
</td>
<td class="nump">3,616,077<span></span>
</td>
<td class="nump">7,221,288<span></span>
</td>
<td class="nump">3,464,666<span></span>
</td>
<td class="nump">5,653,920<span></span>
</td>
<td class="nump">5,820,401<span></span>
</td>
<td class="nump">19,955,951<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,290,919<span></span>
</td>
<td class="nump">14,633,780<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss from impairment and disposal of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,881)<span></span>
</td>
<td class="num">(1,677,262)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,632<span></span>
</td>
<td class="nump">34,590<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,492,119<span></span>
</td>
<td class="nump">2,433,770<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense(benefit)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,850,928)<span></span>
</td>
<td class="nump">662,828<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="num">(5,164,440)<span></span>
</td>
<td class="num">$ (1,404,962)<span></span>
</td>
<td class="nump">$ 109,994<span></span>
</td>
<td class="num">$ (4,086,276)<span></span>
</td>
<td class="num">(1,636,333)<span></span>
</td>
<td class="nump">$ 1,572,335<span></span>
</td>
<td class="nump">$ 15,917<span></span>
</td>
<td class="nump">$ 1,707,869<span></span>
</td>
<td class="num">(10,545,684)<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">203,076,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">218,989,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">203,076,010<span></span>
</td>
<td class="nump">218,989,481<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=itp_DongfangPaperMember', window );">Dongfang Paper [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SummarizedFinancialInformationForReportableSegmentsAbstract', window );"><strong>Summarized financial information for reportable segments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">86,733,136<span></span>
</td>
<td class="nump">117,023,578<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,823,725<span></span>
</td>
<td class="nump">19,955,951<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,557,960<span></span>
</td>
<td class="nump">13,719,661<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss from impairment and disposal of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,881<span></span>
</td>
<td class="nump">1,896,320<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,234<span></span>
</td>
<td class="nump">29,565<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,318,252<span></span>
</td>
<td class="nump">2,320,147<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense(benefit)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,623,468)<span></span>
</td>
<td class="nump">1,544,069<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,029,497)<span></span>
</td>
<td class="nump">4,746,326<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">183,987,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">192,620,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">183,987,100<span></span>
</td>
<td class="nump">192,620,887<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=itp_BaodingShengdeMember', window );">Baoding Shengde [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SummarizedFinancialInformationForReportableSegmentsAbstract', window );"><strong>Summarized financial information for reportable segments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,622<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,324)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">732,959<span></span>
</td>
<td class="nump">914,119<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss from impairment and disposal of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,894,461<span></span>
</td>
<td class="nump">2,071,969<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">398<span></span>
</td>
<td class="nump">5,025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">173,867<span></span>
</td>
<td class="nump">113,623<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense(benefit)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(235,649)<span></span>
</td>
<td class="num">(887,769)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,612,001)<span></span>
</td>
<td class="num">(2,293,731)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">19,068,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26,363,435<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,068,788<span></span>
</td>
<td class="nump">26,363,435<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=us-gaap_MaterialReconcilingItemsMember', window );">Not Attributable to Segments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SummarizedFinancialInformationForReportableSegmentsAbstract', window );"><strong>Summarized financial information for reportable segments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss from impairment and disposal of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense(benefit)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,189<span></span>
</td>
<td class="nump">6,528<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(904,186)<span></span>
</td>
<td class="num">(792,807)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">20,122<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,159<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,122<span></span>
</td>
<td class="nump">5,159<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=us-gaap_IntersegmentEliminationMember', window );">Elimination of Inter-segment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SummarizedFinancialInformationForReportableSegmentsAbstract', window );"><strong>Summarized financial information for reportable segments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss from impairment and disposal of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense(benefit)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementBusinessSegmentsAxis=itp_EnterpriseWideConsolidatedMember', window );">Enterprise-wide, consolidated [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SummarizedFinancialInformationForReportableSegmentsAbstract', window );"><strong>Summarized financial information for reportable segments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">86,746,758<span></span>
</td>
<td class="nump">117,023,578<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,820,401<span></span>
</td>
<td class="nump">19,955,951<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,290,919<span></span>
</td>
<td class="nump">14,633,780<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss from impairment and disposal of property, plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,904,342<span></span>
</td>
<td class="nump">3,968,289<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">36,632<span></span>
</td>
<td class="nump">34,590<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,492,119<span></span>
</td>
<td class="nump">2,433,770<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense(benefit)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,850,928)<span></span>
</td>
<td class="nump">662,828<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,545,684)<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">$ 203,076,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 218,989,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 203,076,010<span></span>
</td>
<td class="nump">$ 218,989,481<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_SummarizedFinancialInformationForReportableSegmentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SummarizedFinancialInformationForReportableSegmentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=114775744&amp;loc=d3e28555-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (210.5-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementBusinessSegmentsAxis=itp_DongfangPaperMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=itp_DongfangPaperMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementBusinessSegmentsAxis=us-gaap_IntersegmentEliminationMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Reporting (Details Textual)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2018 </div>
<div>Segments</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_SegmentReportingTextualAbstract', window );"><strong>Segment Reporting (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfOperatingSegments', window );">Number of business operating segments</a></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfReportableSegments', window );">Number of reportable segment</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_SegmentReportingTextualAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867939664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Concentration and Major Customers and Suppliers (Details)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>Supplier </div>
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</th>
<th class="th">
<div>Dec. 31, 2017 </div>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NumberOfSuppliers', window );">Number of major supplier | Supplier</a></td>
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<td class="nump">2<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_NumberOfCustomer', window );">Number of customer | Customer</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=itp_SupplierOneMember', window );">Supplier One [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract', window );"><strong>Concentration and Major Customers and Suppliers (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Percentage of revenue</a></td>
<td class="nump">82.00%<span></span>
</td>
<td class="nump">69.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=itp_SupplierTwoMember', window );">Supplier Two [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract', window );"><strong>Concentration and Major Customers and Suppliers (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Percentage of revenue</a></td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">8.00%<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember', window );">Sales [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract', window );"><strong>Concentration and Major Customers and Suppliers (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Percentage of revenue</a></td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
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</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ConcentrationAndMajorCustomersAndSuppliersTextualAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of customer contributed over 10% of total sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of suppliers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6351-108592<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=109250915&amp;loc=d3e13531-108611<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109250915&amp;loc=d3e13537-108611<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -URI http://asc.fasb.org/extlink&amp;oid=99393423&amp;loc=d3e6404-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByTypeAxis=itp_SupplierOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByTypeAxis=itp_SupplierOneMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByTypeAxis=itp_SupplierTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByTypeAxis=itp_SupplierTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>107
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867267328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Concentration of Credit Risk (Details)<br></strong></div></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>May 01, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 01, 2015 </div>
<div>CNY (&#165;)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>CNY (&#165;)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ConcentrationOfCreditRiskTextualAbstract', window );"><strong>Concentration of Credit Risk (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FederalDepositInsuranceCorporationPremiumExpense', window );">Federal deposit insurance corporation</a></td>
<td class="nump">$ 72,852<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,769,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_TypeOfCurrencyAxis=itp_RMBMember', window );">RMB [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_ConcentrationOfCreditRiskTextualAbstract', window );"><strong>Concentration of Credit Risk (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FederalDepositInsuranceCorporationPremiumExpense', window );">Federal deposit insurance corporation | &#165;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#165; 80,774,719<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFDICInsuredAmount', window );">Maximum coverage from FDIC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_ConcentrationOfCreditRiskTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_ConcentrationOfCreditRiskTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFDICInsuredAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash deposited in financial institutions as of the balance sheet date that is insured by the Federal Deposit Insurance Corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashFDICInsuredAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FederalDepositInsuranceCorporationPremiumExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FederalDepositInsuranceCorporationPremiumExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_TypeOfCurrencyAxis=itp_RMBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_TypeOfCurrencyAxis=itp_RMBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>108
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6874402336">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summarized Quarterly Financial Data (Unaudited) (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Sep. 30, 2018</div></th>
<th class="th"><div>Jun. 30, 2018</div></th>
<th class="th"><div>Mar. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Sep. 30, 2017</div></th>
<th class="th"><div>Jun. 30, 2017</div></th>
<th class="th"><div>Mar. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_QuarterlyFinancialInformationTextualAbstract', window );"><strong>Summarized Quarterly Financial Data (Unaudited) [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenues</a></td>
<td class="nump">$ 24,985,717<span></span>
</td>
<td class="nump">$ 26,723,657<span></span>
</td>
<td class="nump">$ 33,149,190<span></span>
</td>
<td class="nump">$ 1,888,194<span></span>
</td>
<td class="nump">$ 35,439,183<span></span>
</td>
<td class="nump">$ 33,507,053<span></span>
</td>
<td class="nump">$ 22,787,683<span></span>
</td>
<td class="nump">$ 25,289,659<span></span>
</td>
<td class="nump">$ 86,746,758<span></span>
</td>
<td class="nump">$ 117,023,578<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross (loss) profit</a></td>
<td class="nump">2,240,944<span></span>
</td>
<td class="nump">1,259,343<span></span>
</td>
<td class="nump">3,015,422<span></span>
</td>
<td class="num">(695,308)<span></span>
</td>
<td class="nump">3,616,077<span></span>
</td>
<td class="nump">7,221,288<span></span>
</td>
<td class="nump">3,464,666<span></span>
</td>
<td class="nump">5,653,920<span></span>
</td>
<td class="nump">5,820,401<span></span>
</td>
<td class="nump">19,955,951<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
<td class="num">(5,080,753)<span></span>
</td>
<td class="num">(1,570,353)<span></span>
</td>
<td class="num">(11,730)<span></span>
</td>
<td class="num">(4,519,478)<span></span>
</td>
<td class="num">(1,674,877)<span></span>
</td>
<td class="nump">2,719,550<span></span>
</td>
<td class="nump">764,016<span></span>
</td>
<td class="nump">2,871,578<span></span>
</td>
<td class="num">(11,182,314)<span></span>
</td>
<td class="nump">4,680,267<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net (loss) income</a></td>
<td class="num">$ (5,164,440)<span></span>
</td>
<td class="num">$ (1,404,962)<span></span>
</td>
<td class="nump">$ 109,994<span></span>
</td>
<td class="num">$ (4,086,276)<span></span>
</td>
<td class="num">$ (1,636,333)<span></span>
</td>
<td class="nump">$ 1,572,335<span></span>
</td>
<td class="nump">$ 15,917<span></span>
</td>
<td class="nump">$ 1,707,869<span></span>
</td>
<td class="num">$ (10,545,684)<span></span>
</td>
<td class="nump">$ 1,659,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract', window );"><strong>Net income per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic</a></td>
<td class="num">$ (0.24)<span></span>
</td>
<td class="num">$ (0.07)<span></span>
</td>
<td class="nump">$ 0.005<span></span>
</td>
<td class="num">$ (0.19)<span></span>
</td>
<td class="num">$ (0.076)<span></span>
</td>
<td class="nump">$ 0.07<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.49)<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted</a></td>
<td class="num">$ (0.24)<span></span>
</td>
<td class="num">$ (0.07)<span></span>
</td>
<td class="nump">$ 0.005<span></span>
</td>
<td class="num">$ (0.19)<span></span>
</td>
<td class="num">$ (0.076)<span></span>
</td>
<td class="nump">$ 0.07<span></span>
</td>
<td class="nump">$ 0.001<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="num">$ (0.49)<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_QuarterlyFinancialInformationTextualAbstract">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1337-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=109256448&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1252-109256<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=SL5780133-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=109256448&amp;loc=d3e4984-109258<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=109234566&amp;loc=d3e22694-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=d3e1337-109256<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109260490&amp;loc=SL5780133-109256<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1,2)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GrossProfit</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
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<tr>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6873720880">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Condensed Financial Information of the Parent Company (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 12,117,425<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepayments and other current assets</a></td>
<td class="nump">6,241,299<span></span>
</td>
<td class="nump">651,523<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">24,158,872<span></span>
</td>
<td class="nump">19,986,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">203,076,010<span></span>
</td>
<td class="nump">218,989,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued payroll and employee benefits</a></td>
<td class="nump">213,536<span></span>
</td>
<td class="nump">231,247<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
<td class="nump">617,454<span></span>
</td>
<td class="nump">548,684<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income tax payable</a></td>
<td class="nump">219,305<span></span>
</td>
<td class="nump">525,804<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">29,634,267<span></span>
</td>
<td class="nump">21,757,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">36,526,095<span></span>
</td>
<td class="nump">33,664,117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
<td class="nump">166,549,915<span></span>
</td>
<td class="nump">185,325,364<span></span>
</td>
<td class="nump">172,755,386<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Stockholders' Equity</a></td>
<td class="nump">203,076,010<span></span>
</td>
<td class="nump">218,989,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember', window );">Parent Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">2,723<span></span>
</td>
<td class="nump">5,158<span></span>
</td>
<td class="nump">$ 1,457<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepayments and other current assets</a></td>
<td class="nump">17,400<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">20,123<span></span>
</td>
<td class="nump">5,158<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsAndOtherNoncurrentAssets', window );">Investment in subsidiaries</a></td>
<td class="nump">170,520,446<span></span>
</td>
<td class="nump">188,894,696<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">170,520,446<span></span>
</td>
<td class="nump">188,899,854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_InterCompanyPayableCurrent', window );">Inter-company payable</a></td>
<td class="nump">3,990,654<span></span>
</td>
<td class="nump">3,567,962<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued payroll and employee benefits</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedIncomeTaxesCurrent', window );">Income tax payable</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">6,528<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">3,990,654<span></span>
</td>
<td class="nump">3,574,490<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">3,990,654<span></span>
</td>
<td class="nump">3,574,490<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
<td class="nump">166,529,792<span></span>
</td>
<td class="nump">185,325,364<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Stockholders' Equity</a></td>
<td class="nump">$ 170,520,446<span></span>
</td>
<td class="nump">$ 188,899,854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_InterCompanyPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_InterCompanyPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedIncomeTaxesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(b)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedIncomeTaxesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6801-107765<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of investments, and noncurrent assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(32))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Financial Information of the Parent Company (Details 1) - USD ($)<br></strong></div></th>
<th class="th" colspan="8">3 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
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<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
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<td class="nump">$ 24,985,717<span></span>
</td>
<td class="nump">$ 26,723,657<span></span>
</td>
<td class="nump">$ 33,149,190<span></span>
</td>
<td class="nump">$ 1,888,194<span></span>
</td>
<td class="nump">$ 35,439,183<span></span>
</td>
<td class="nump">$ 33,507,053<span></span>
</td>
<td class="nump">$ 22,787,683<span></span>
</td>
<td class="nump">$ 25,289,659<span></span>
</td>
<td class="nump">$ 86,746,758<span></span>
</td>
<td class="nump">$ 117,023,578<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,098,373<span></span>
</td>
<td class="nump">11,307,395<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from Operations</a></td>
<td class="num">(5,080,753)<span></span>
</td>
<td class="num">(1,570,353)<span></span>
</td>
<td class="num">(11,730)<span></span>
</td>
<td class="num">(4,519,478)<span></span>
</td>
<td class="num">(1,674,877)<span></span>
</td>
<td class="nump">2,719,550<span></span>
</td>
<td class="nump">764,016<span></span>
</td>
<td class="nump">2,871,578<span></span>
</td>
<td class="num">(11,182,314)<span></span>
</td>
<td class="nump">4,680,267<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">(Loss)/ Income before Income Taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,396,612)<span></span>
</td>
<td class="nump">2,322,616<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for Income Taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,850,928)<span></span>
</td>
<td class="nump">662,828<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Income</a></td>
<td class="num">$ (5,164,440)<span></span>
</td>
<td class="num">$ (1,404,962)<span></span>
</td>
<td class="nump">$ 109,994<span></span>
</td>
<td class="num">$ (4,086,276)<span></span>
</td>
<td class="num">$ (1,636,333)<span></span>
</td>
<td class="nump">$ 1,572,335<span></span>
</td>
<td class="nump">$ 15,917<span></span>
</td>
<td class="nump">$ 1,707,869<span></span>
</td>
<td class="num">(10,545,684)<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Total Comprehensive Income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(19,278,435)<span></span>
</td>
<td class="nump">12,569,978<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember', window );">Parent Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Operating expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">895,995<span></span>
</td>
<td class="nump">402,579<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from Operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(895,995)<span></span>
</td>
<td class="num">(402,579)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_EquityInEarningsOfUnconsolidatedSubsidiaries', window );">Equity in (loss)/ earnings of unconsolidated subsidiaries</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,641,498)<span></span>
</td>
<td class="nump">2,068,895<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other Income (Expense)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">(Loss)/ Income before Income Taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,537,493)<span></span>
</td>
<td class="nump">1,666,316<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for Income Taxes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(8,189)<span></span>
</td>
<td class="num">(6,528)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,545,682)<span></span>
</td>
<td class="nump">1,659,788<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossTax', window );">Other comprehensive income /(loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,974,338)<span></span>
</td>
<td class="nump">10,910,190<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Total Comprehensive Income (loss)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (19,298,598)<span></span>
</td>
<td class="nump">$ 12,569,978<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itp_EquityInEarningsOfUnconsolidatedSubsidiaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_EquityInEarningsOfUnconsolidatedSubsidiaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itp_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=d3e557-108580<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669619-108580<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873765&amp;loc=SL114874048-224260<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=SL7669625-108580<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 220<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(18))<br> -URI http://asc.fasb.org/extlink&amp;oid=114873790&amp;loc=SL114874131-224263<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of tax expense (benefit) allocated to other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e39076-109324<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 20<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=109238882&amp;loc=d3e38679-109324<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=114867106&amp;loc=d3e640-108580<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (expense) related to nonoperating activities, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNonoperatingIncomeExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8933-108599<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 280<br> -SubTopic 10<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=115929826&amp;loc=d3e8736-108599<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=68048583&amp;loc=d3e3636-108311<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=115205541&amp;loc=SL114868664-224227<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6660315504">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Financial Information of the Parent Company (Details 2) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net Cash (Used in) Provided by Operating Activities</a></td>
<td class="nump">$ 9,790,613<span></span>
</td>
<td class="nump">$ 18,151,788<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net Cash Used in Investing Activities</a></td>
<td class="num">(2,198,852)<span></span>
</td>
<td class="num">(9,321,636)<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net Cash Provided by Financing Activities</a></td>
<td class="num">(3,165,607)<span></span>
</td>
<td class="num">(4,917,037)<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net Increase (Decrease) in Cash and Cash Equivalents</a></td>
<td class="nump">3,099,998<span></span>
</td>
<td class="nump">4,522,463<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, Cash Equivalents and Restricted Cash - Beginning of Year</a></td>
<td class="nump">9,017,427<span></span>
</td>
<td class="nump">4,494,964<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, Cash Equivalents and Restricted Cash - End of Year</a></td>
<td class="nump">12,117,425<span></span>
</td>
<td class="nump">9,017,427<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember', window );">Parent Company [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net Cash (Used in) Provided by Operating Activities</a></td>
<td class="num">(425,127)<span></span>
</td>
<td class="num">(402,579)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net Cash Used in Investing Activities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net Cash Provided by Financing Activities</a></td>
<td class="nump">422,692<span></span>
</td>
<td class="nump">406,280<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net Increase (Decrease) in Cash and Cash Equivalents</a></td>
<td class="num">(2,435)<span></span>
</td>
<td class="nump">3,701<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, Cash Equivalents and Restricted Cash - Beginning of Year</a></td>
<td class="nump">5,158<span></span>
</td>
<td class="nump">1,457<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash, Cash Equivalents and Restricted Cash - End of Year</a></td>
<td class="nump">$ 2,723<span></span>
</td>
<td class="nump">$ 5,158<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3044-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=82887183&amp;loc=d3e6676-107765<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3536-108585<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3521-108585<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=109223946&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=srt_ParentCompanyMember</td>
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<span style="display: none;">v3.10.0.1</span><table class="report" border="0" cellspacing="2" id="idp6867653872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Condensed Financial Information of the Parent Company (Details Textual) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itp_CondensedFinancialInformationOfParentCompanyTextualAbstract', window );"><strong>Condensed Financial Information of the Parent Company (Textual)</strong></a></td>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition', window );">Restricted including paid-in capital, capital surplus and statutory reserves</a></td>
<td class="nump">$ 45,589,643<span></span>
</td>
<td class="nump">$ 45,589,643<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itp_CondensedFinancialInformationOfParentCompanyTextualAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase to additional paid-in capital (APIC) resulting from recognition of equity-based compensation for restricted stock units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
