Ladies and gentlemen, welcome to participate in Orient Paper's Second Quarter of 2017 Earnings Conference Call. [Operator Instructions] 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 would be delivered in English by interpreters. Orient Paper announced its second quarter of 2017 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 the company's key operational highlights over the second quarter of 2017, and then Ms. Hao will review the company's financial results. Before we start, I'd like to draw your attention to our safe harbor statement. Management's prepared remarks contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts in this 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 the forward-looking statements to reflect subsequent or current events or circumstances or to changes in its expectation except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that these expectations will turn out to be correct, and investors are cautioned that our 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 discussion on non-GAAP financial measure 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 refer to year-over-year comparisons unless otherwise stated. I will now like to turn the call over to Mr. Liu. His comments will be delivered in English by Tony Tian from Weitian Investor Relations. Mr. Tian, please go ahead.

Thank you, operator, and good morning, everyone. Thanks for joining our second quarter 2017 earnings conference call. Our second quarter results largely reflected the impact of government-mandated temporary restriction on production that has been in place since November 2016. Total sales volume decreased by 42.5% to 55,069 tonnes, the lowest level since the first quarter of 2013, leading to a 40% decrease in total revenue in the second quarter. Our margins also deteriorated as a result of increases in unit costs of recycled paper board, recycled white scrap paper and coal. That increased by 34%, 17.5% and 56.9% year-over-year, respectively. Looking ahead, we expect that the prices for our major products to remain relatively stable at current levels and the temporary government-mandated production restrictions or suspension from time to time to continue to pose risks and uncertainties to our business. Now I will turn the call over to our 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, Janice Wong. Janice, please go ahead.

Thanks, 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 2017. Also I will occasionally refer to specific production lines associated with various products. Let me be clear to which products I am referring to. For reference though, the numbering system for our production lines provided in our earnings press release and on Slide 17 earnings call presentation. Now let's look at the financial performance for the second quarter of 2017. Please turn to Slide 7. For the second quarter of 2017, total revenue decreased 40% to $22.8 million due to the decrease in overall sales volumes and partially offset by the moderate increase in blended average selling prices. Turning to Slide 8. For the second quarter of 2017, the CMP segment, including both regular CMP and light-weight CMP, generated revenue of $17.1 million, representing 75.2% of total revenues. $13.9 million of revenue was from our regular CMP products and $3.2 million was from light-weight CMP. Volume for CMP segment decreased by 39.9% to 47,194 tonnes, of which 37,994 tonnes was regular CMP and 9,200 tonnes was light-weight CMP. Average selling price, or ASP, for regular CMP increased by 11.9% to $366 per tonne, while ASP for light-weight CMP increased 5.7% to $353 per tonne. Turning to Slide 9. For the second quarter of 2017, our offset printing paper segment generated revenue of $4.9 million, representing 21.6% of the total revenue. We shipped 7,307 tonnes offset printing paper in the second quarter, decreased 54.3% from the same period of last year. ASP for offset printing paper increased slightly by 3.1% to $674 per tonne. Turning to Slide 10. For the second quarter of 2017, tissue paper segment generated sales of $0.7…

Thank you for attending Orient Paper's Second Quarter 2017 Earnings Conference Call. This concludes our call today, and we thank you all for listening in. Goodbye.