Hello, ladies and gentlemen. And welcome to participate in Orient Paper's Third Quarter 2017 Earnings Conference Call. At this time, I would like to inform you that this conference is being recorded and that all participants are in a 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 would be delivered in English by interpreters. Orient Paper announced its third 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 third quarter of 2017, 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 the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts in 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 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 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 would now like to hand 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 third quarter 2017 earnings conference call. Our third quarter revenue decreased by 10.6% year-on-year to $33.5 million, mainly due to decrease in sales volume across our product categories, despite increase in blended ASP. Total sales volume decreased by 36.2% to 61,903 tonnes, primarily related to production suspension in September as we removed our coal burning boilers and started to replace them with gas boilers in compliance with the latest government regulation. Overall, gross margin improved by 2 percentage points to 21.6% in third quarter, as a result of increasing ASPs for regular CMP and light-weight CMP. Looking ahead, as the government continues to promulgate and fully implement rules and regulations on environmental protections, outdated productions in the paper industry are accelerating to phase out. We believe large-scale enterprises like us will benefit from industry consolidation as a result of the phasing out of outdated productions. We expect the overall pricing and market demand will show an upward trend in the near future and the company's operations will continue to improve." Now, I would turn the call over to our CFO Ms. Jing Hao, who will review and comment on the third 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 third quarter of 2017. 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 production lines is provided in our earnings press release and on slide 17 its earnings call presentation. Now let's look at our financial performance for the third quarter of 2017. Please turn to slide number 7. For the third quarter of 2017, total revenue decreased to 10.6% to $33.5 million due to a decrease in sales volumes across our products partly and partially offset by increase in blended average selling prices. Turning to slide 8. For the third quarter of 2017, the CMP segment, including both regular CMP and light-weight CMP generated revenue of $27.4 million, representing 81.8% of total revenues. $22.4 million of revenue was from our regular CMP products and $5 million was from light-weight CMP. Revenue for CMP segment decreased by 34.1% to 53,375 tonnes, of which 43,202 tonnes was regular CMP and 10,173 tonnes was light-weight CMP. Average selling price, or ASP, for regular CMP increased by 59.4%to $518 per tonne, while ASP for light-weight CMP increased to 47.9% to $491 tonne. Turning to slide 9. For the third quarter of 2017, our offset printing paper segment generated revenue of $5.5 million, representing 13.3% of the total revenue. We shipped 8,035 tonnes offset printing paper in the third quarter, decreased to 43.9% from the same period of last year. ASP for offset printing paper increased slightly by 5.9% to $679 per tonne. Turning to slide 10. For the third quarter of 2017, tissue paper…