Establish Welbon Trading Co., Ltd. with registered capital of 1 million RMB

Change name in to Zhejiang Welbon Pulp & Paper Co., Ltd

Extend to downstream – special paper industry by establish Anhui Winbon Specialty Paper Co., Ltd

Establish Zhejiang Winbon Specialty Paper Co., Ltd.

Establish Anqing Winbon Specialty Paper Co., Ltd.

Establish Welbon Gaosen Paper Co., Ltd. 

Establish Welbon Group, including five subsidiaries.

Change name of Welbon Gaosen to Welbon Specialty Paper Co., Ltd and IPO.

Establish Sino-German joint venture, Winbon Schoeller New Materials Co., Ltd. with registered capital of 570 million RMB

Acquire Zhejiang Grandrich New Materials Co., Ltd. and change name to Winbon Technocell New Materials Co., Ltd.

Increase the registered capital of Welbon Group to 180 million RMB.

PM9 prorject with 75000 Mt capacity running in LY2 mill.