Ms. Cheung Yan has been the Chairlady of the Company since 2006. She is one of the founders of the Group and is in charge of the Company's overall corporate development and the Group's strategic planning. Ms. Cheung has over 13 years of experience in paper manufacturing and over 23 years of experience in recovered paper recycling and international trade. Ms. Cheung is a member of the National Committee of the Chinese People's Political Consultative Conference, vice chairman of China Federation of Overseas Chinese Entrepreneurs, executive vice president of the Guangdong Overseas Chinese Enterprises Associations, vice chairman of Chamber of Commerce of Guangdong province and honorary chairman of US-China Federal Association of Business Councils. Ms. Cheung is also an honorary citizen of the City of Dongguan, Guangdong Province, China. In 2007, Ms. Cheung was awarded the "Entrepreneur of the Year in China 2007" by Ernst & Young and in 2008, she was accredited as a "Leader Figure"(「領袖人物獎」) in "China Cailun Award"(「中華蔡倫獎」) by China Paper Industry Chamber of Commerce and was awarded "China Charity Award 2008"(「2008年中華慈善獎」) by the Ministry of Civil Affairs of the PRC. In May 2009, Ms. Cheung was awarded "Outstanding Entrepreneur in Pulp and Paper Manufacturing Industry in China" (「全國製漿造紙行業優秀企業家」) by China Paper Association.

Mr. Liu Ming Chung has been the Deputy Chairman and Chief Executive Offi cer of the Company since 2006. He is one of the founders of the Group and is responsible for the overall corporate management and planning, the development of new manufacturing technologies, the procurement of production equipment and human resources management of the Group. Mr. Liu has over 18 years of experience in international trade and over 10 years of experience in corporate management. Mr. Liu graduated with a bachelor degree in Dental Surgery from the University of Santo Amaro in 1983. Mr. Liu is an honorary citizen of the City of Dongguan, Guangdong Province, China. In 2000, Mr. Liu was appointed as a member of the Nineth Committee of the Chinese People's Political Consultative Conference of Guangzhou of Guangdong province and a consultant of the Committee for Affairs of Hong Kong, Macao, Taiwan Compatriots and Overseas Chinese. In 2001, Mr. Liu was awarded a member of All-China Youth Federation.

Mr. Zhang Cheng Fei has been the Executive Director and Deputy Chief Executive Offi cer of the Company since 2006. He is one of the founders and is responsible for the overall management of the operations and business of the Group including marketing, fi nance, procurement, sales and IT departments. Mr. Zhang has over 15 years of experience in procurement, marketing and distribution and is a member of the Third Committee of the Chinese People's Political Consultative Conference of Chongqing.

Mr. Zhang Yuanfu has been an Executive Director of the Company since 2008. He also serves as the Group's Chief Financial Offi cer and the Qualifi ed Accountant in charge of fi nancial matters and investor relations. Prior to joining the Group, Mr. Zhang served as the chief fi nancial offi cer, qualifi ed accountant and company secretary of Weichai Power Co., Ltd. for more than 5 years and also worked in a number of Hong Kong listed companies in charge of accounting and fi nancial management. He has more than 23 years of experience in auditing, accounting and corporate fi nance. Mr. Zhang holds a bachelor degree in Economics. He is a fellow member of the Association of Chartered Certifi ed Accountants in the United Kingdom and an associate member of the Hong Kong Institute of Certifi ed Public Accountants.

Mr. Lau Chun Shun joined the Company as a Non-executive Director in 2006 and was re-designated as an Executive Director of the Company in August 2009. He is responsible for the management and operation of the Group including marketing and distribution, procurement and sales departments. Mr. Lau holds a bachelor degree in Economics from the University of California, Davis and a master degree in Industrial Engineering from Columbia University.

Ms. Gao Jing has been an Executive Director of the Company since 2006. She joined the Group in June 1996 and has 13 years of experience in cost auditing of raw materials and the purchasing of recovered paper. She served as the Group's Financial Manager and was promoted as the Head of the Group's Import Purchasing Department in July 2006. Ms. Gao graduated from Liaoning Broadcasting Television University with a diploma in Electrical Engineering.

Ms. Tam Wai Chu, Maria, GBS, JP has been an Independent Non-Executive Director of the Company since 2006. She serves as an independent non-executive director of Guangnan (Holdings) Limited, Minmetals Land Limited, Sa Sa International Holdings Limited, Sinopec Kantons Holdings Limited, Titan Petrochemicals Group Limited, Tong Ren Tang Technologies, Co., Ltd. and Wing On Company International Limited. Ms. Tam is a Deputy of the National People's Congress P.R.C. from H.K.S.A.R. and a member of the Hong Kong Basic Law Committee under the Standing Committee of the National People's Congress. She is qualifi ed as a barrister-at-law at Gray's Inn, London and has practice experience in Hong Kong.

Mr. Chung Shui Ming Timpson, GBS, JP has been an Independent Non-Executive Director of the Company since 2006. Mr. Chung is an independent non-executive director of China Unicom (Hong Kong) Limited, Glorious Sun Enterprises Limited and Miramar Hotel and Investment Company, Ltd., companies whose shares are listed on The Stock Exchange of Hong Kong Limited. He is an independent non-executive director of China State Construction Engineering Corporation Limited, a company whose shares are listed on The Shanghai Stock Exchange. In addition, Mr. Chung is a member of the National Committee of the 11th Chinese People's Political Consultative Conference.

Mr. Chung was previously an executive director of Hantec Investment Holdings Limited and Shimao International Holdings Limited, an independent non-executive director of Stockmartnet Holdings Limited and Tai Shing International (Holdings) Limited, the Chairman of the Hong Kong Housing Society, the Council of the City University of Hong Kong and the Fund Management Sub-Committee of the Hong Kong Housing Authority. Mr. Chung obtained a bachelor degree in Science from the University of Hong Kong and a master degree in Business Administration from the Chinese University of Hong Kong. Mr. Chung is a fellow member of the Hong Kong Institute of Certifi ed Public Accountants.

Dr. Cheng Chi Pang has been an Independent Non-Executive Director of the Company since 2006. He holds a bachelor degree in Business, a master degree in Business Administration and a master degree of Laws as well as and a doctorate degree of philosophy in Business Management. Dr. Cheng is an associate member of the Hong Kong Institute of Certifi ed Public Accountants, Institute of Chartered Accountants in England and Wales, the Australian Society of Certifi ed Practising Accountants, the Taxation Institute of Hong Kong and a fellow member of the Hong Kong Institute of Directors. He is a Certifi ed Public Accountant practicing in Hong Kong and has approximately 28 years of experience in auditing, business advisory and fi nancial management.

Dr. Cheng joined the New World Group in 1992 and was chief executive and group fi nancial controller of NWS Holdings Limited, the shares of which are listed on the Main Board of the Stock Exchange. Prior to joining the New World Group, he was a senior manager of Price Waterhouse, now PricewaterhouseCoopers. Dr. Cheng is currently the senior partner of Leslie Cheng & Co. Certifi ed Public Accountants, the Chairman of L & E Consultants Limited, a Non-executive Director of Wai Kee Holdings Limited and Build King Holdings Limited and an Independent Non-Executive Director and Chairman of the audit committee of China Ting Group (Holdings) Limited, Tianjin Port Development Holdings Limited and Fortune Sun (China) Holdings Limited.

Mr. Wang Hong Bo has been an Independent Non-Executive Director of the Company since 2006. Mr. Wang has extensive experience and expertise in the paper industry in China and was appointed as the Deputy Head of Yantai Packaging Decoration Factory in 1990.