Common use of LISTING RULE IMPLICATIONS Clause in Contracts

LISTING RULE IMPLICATIONS. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ is wholly owned by ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ and his family members. ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ is the brother of ▇▇. ▇▇▇▇▇▇ ▇▇▇ and ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇, the uncle of ▇▇. ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇. ▇▇▇ ▇▇▇ and ▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, all of whom are the Directors and substantial shareholders of the Company. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ is hence a connected person of the Company and the transactions contemplated under the Packaging Paper Supply Agreement constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules. As the applicable ratios for the annual transaction amount of the Packaging Paper Supply Agreement are expected to be over 0.1% but less than 5%, the Packaging Paper Supply Agreement will be subject to the reporting, annual review and announcement requirements but exempt from the requirement of Independent Shareholders’ approval under Chapter 14A of the Listing Rules.

LISTING RULE IMPLICATIONS. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Group is wholly owned by ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ and his family members. ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ is the brother of ▇▇. ▇▇▇▇▇▇ ▇▇▇ and ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇, the uncle of ▇▇. ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇. ▇▇▇ ▇▇▇ and ▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, all of whom are the Directors and substantial shareholders of the Company. ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Group is hence a connected person of the Company and the transactions contemplated under the Packaging Paper Supply Chemicals Purchase Agreement constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules. As the applicable ratios for the annual transaction amount of the Packaging Paper Supply Chemicals Purchase Agreement are expected to be over 0.1% but less than 5%, the Packaging Paper Supply Chemicals Purchase Agreement will be subject to the reporting, annual review and announcement requirements but exempt from the requirement of Independent Shareholders’ approval under Chapter 14A of the Listing Rules.. NON-EXEMPT CONTINUING CONNECTED TRANSACTIONS Recovered Paper and Recycled Pulp Agreement (a) Principal terms

LISTING RULE IMPLICATIONS. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Group is wholly owned by ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ and his family members. ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ is the brother of ▇▇. ▇▇▇▇▇▇ ▇▇▇ and ▇▇. ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇, the uncle of ▇▇. ▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇. ▇▇▇ ▇▇▇ and ▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, all of whom are the Directors and substantial shareholders of the Company. ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇ Group is hence a connected person of the Company and the transactions contemplated under the Packaging Paper Supply Chemicals Purchase Agreement constitute continuing connected transactions of the Company under Chapter 14A of the Listing Rules. As the applicable ratios for the annual transaction amount of the Packaging Paper Supply Chemicals Purchase Agreement are expected to be over 0.1% but less than 5%, the Packaging Paper Supply Chemicals Purchase Agreement will be subject to the reporting, annual review and announcement requirements but exempt from the requirement of Independent Shareholders’ approval under Chapter 14A of the Listing Rules.. NON-EXEMPT CONTINUING CONNECTED TRANSACTIONS Recovered Paper, Recycled Pulp and Woodchips Agreement (a) Principal terms