Hello, ladies and gentlemen, and welcome to participate in Orient Paper’s Second Quarter of 2016 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded and that all participants are in listen-only mode. Joining us today are Mr. Zhenyong Liu, Orient Paper’s Chairman and Chief Executive Officer; and Ms. Jing Hao, the Company’s Chief Financial Officer. Remarks from both, Mr. Liu and Ms. Hao will be delivered in English by interpreters. Orient Paper announced its second quarter 2016 financial results via press release yesterday, which can be found on the Company’s website at www.orientpaperinc.com. First, Mr. Liu will brief you on Company’s key operational highlights over the second quarter of 2016, and then Ms. Hao will review the Company’s financial results. Before we start, I would like to draw your attention to our Safe Harbor statement. Management’s prepared remarks contain forward-looking statements within the meaning of Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts and its announcement are forward-looking statements, including, but not limited to anticipated revenues from the corrugating medium paper, tissue paper, offset printing paper, and digital photo paper business segments, the actions and initiatives of current and potential competitors, the Company’s ability to introduce new products, the Company’s ability to implement capacity expansion, 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 other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent or current events or circumstances or to changes in its expectation, except as maybe required by law. Although, the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that this expectation will turn out to be correct and investors are cautioned that actual results may differ materially from the anticipated results. There is a presentation document featuring management’s prepared remarks, and it’s now available for download from the Company’s website at www.orientpaperinc.com. Please note that there will be discussions on non-GAAP financial measures or EBITDA or Earnings Before Interest, Taxes, Depreciation, and Amortization. Please refer to our press release for a complete reconciliation of EBITDA to net income. As a kind reminder, all numbers in our presentation are quoted in U.S. dollars and all comparisons refers to year-over-year comparisons unless otherwise stated. I’ll like to turn the call over to Mr. Liu. His comments will be delivered in English by Tony Tian from Weitian Investor Relations. Ms. Tian, please go ahead.

Thank you, operator, and good morning, everyone. Thanks for joining our second quarter 2016 earnings conference call. The overall business environment remained challenging for us during the second quarter of 2016, as China’s economy growth continued to slow down and the Renminbi depreciation against the U.S. dollar as a result or total revenue were down 8% compared with the same period of last year. And some highlights for the second quarter sales of tissue paper products remain solid and generated $1.5 million in revenues. Sales volume of offset printing paper also increased both sequentially and year-over-year. Looking ahead the macroeconomic environment and the state of the paper industry in China will continue to have a significant impact on our financial performance. We expect that our tissue product segment will continued to experience strong growth. Now I’ll turn the call over to CFO, Ms. Jing Hao, who will review and comment on the second quarter financial results. Her comments will be delivered in English by my colleague Tina Xiao. Tina please go ahead.

Thank you, Tony, and thanks everyone for being on the call. Next on behalf of the management team I will summarize some key financial results for the second quarter of 2016. Also, I will occasionally refer to specific production lines associated with various products. I will make clear to which products I am referring to. For reference though, the numbering system for our operation lines is provided in our earnings press release on the Slide number 17 of the earnings call presentation. Now let’s look at our financial performance for the second quarter of 2016. Please turn to Slide number 7. For the second quarter of 2016, total revenue decreased 8% to $38 million due to the decreasing sales of CMP and was partially offset by increasing sales of tissue paper products and digital photo paper. Turning to Slide number 8, for the second quarter of 2016, the CMP segments including both regular CMP and light-weight CMP generated revenue of $25.8 million representing 67.8% of total revenue. $21.5 million of revenue was from our regular CMP products and $4.3 million was from light-weight CMP. Volume for CMP segment decreased by 3.8% to 78,487 tonnes of which 65,620 tonnes was regular CMP and 12,867 tonnes was light-weight CMP. Average selling price or ASP for regular CMP decreased by 13.2% to $327 per tonne, while ASP for light-weight CMP decreased 13% to $334 per tonne. Turning to Slide number 9, for the second quarter of 2016 our Offset Printing Paper segment generated revenue of $10.4 million representing 27.5% of total revenues. We shipped 15,984 tonnes offset printing paper in the second quarter, increased 6.7% from the same period last year. Average selling price for offset printing paper also decreased slightly by 6.3% to $654 per tonne. For the second quarter of 2016,…