Among other activities, the mandate suspends production in the industries of paper manufacturing, textile printing and dyeing, cement, mining, construction and chemical manufacturing. The purpose of the directive is to help minimize air pollution during the Asia-Pacific Economic Cooperation ("APEC") Economic Leaders Week summit to be held in Beijing from November 5 through November 11, 2014.
Normal production will resume on November 13, 2014, in compliance with the terms of the directive.
The company cautions that this unplanned suspension may potentially reduce fourth quarter revenue by $6 million to $8 million when compared to previously issued guidance. The company is evaluating possible plans to make up the lost production time, but cannot guarantee the feasibility or implementation of any such plan. The company will comment on the expected financial impact of the suspension when it reports third quarter earnings results. The company's most recent guidance called for full year revenue of $146 to $161 million, and net income ranging from $15 to $17 million.
Orient Paper, Inc. is a leading paper manufacturer in North China.
