What changed in this filing

/stocks — the workspaceLOADING

Item 2. Properties

2021-03-23 compared with 2020-03-23 · 15 added, 17 removed, 43 unchanged (43% of the section changed)

11 unchanged sentences

allows the holder the right to use the land for a specified long-term period of time and enjoys all the incidents of ownership

The following are the details regarding Dongfang Paper’s land use rights with regard to the land that it

uses in its business.

The following are the details regarding Dongfang Paper’s land use rights with regard to the land that it uses

in its business.

The land of our first

3 unchanged sentences

$ 17,406 (RMB 120,000) due by June 30 every year.

The land of the second

production base (the “Xingtai Paper Mill”), 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.

The lease requires an annual

payment of approximately $542,675 (RMB 3,600,000) due by November 27 every year.

On June 25, 2019, Dongfang Paper entered into

an acquisition agreement with shareholder of Hebei Tengsheng Paper Co., Ltd.(“Hebei Tengsheng”), a limited liability

company organized under the laws of the PRC, pursuant to which Dongfang Paper will acquire Hebei Tengsheng.

Upon full payment

of the consideration in the amount of RMB 320 million (approximately $45 million), Hebei Tengsheng will become a wholly owned

subsidiary of Dongfang Paper that manufactures and sells tissue paper products.

of the second production base (the “Xingtai Paper Mill”), comprising 300 mu, or approximately 50 acres, of land,

is owned by Hebei Tengsheng Paper Co., Ltd., a limited liability company organized under the laws of the PRC.

(“Hebei

Tengsheng”).

On June 25, 2019, Dongfang Paper entered into an acquisition agreement with the shareholder of Hebei

Tengsheng Paper Co., Ltd., pursuant to which Dongfang Paper agreed to acquire Hebei Tengsheng for the consideration in the

amount of RMB 320 million (approximately $46 million), and upon full payment for the consideration Hebei Tengsheng will

become a wholly owned subsidiary of Dongfang Paper that manufactures and sells tissue paper products.

The closing of the

acquisition of Bebei Tengsheng has not occurred.

The office building

10 unchanged sentences

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.

Paper Mill and subsequently received governmental approval for our capacity expansion plan.

On April 13, 2012, we closed our acquisition

9 unchanged sentences

As of December 31,

2019, 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.

2020, our facilities include a total of nine 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.

Legal Proceedings

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties