We will conduct field research on Hengfeng Paper on April 26. At this time, the contents of the company's March 22 online roadshow will be compiled so that everyone can understand the company's basic situation. Participants in this roadshow included the company's chairman, general manager, director, finance minister, and sponsor agency representatives, etc., who gave detailed and comprehensive answers to the company's basic questions. The capital raised by Hengfeng Paper's current issuance of convertible bonds is mainly invested in three projects: a construction project with an annual output of 6,000 tons of high permeability filter rod molding paper, a bible paper project with an annual output of 17,000 tons, and a special coated paper project with an annual output of 60,000 tons. The construction of these three projects can, on the one hand, strengthen the company's market position in domestic cigarette supporting paper, and on the other hand, achieve the company's strategic transformation from a single supplier of cigarette supporting paper to a comprehensive specialty paper supplier. Hengfeng Paper focuses on R&D, production and sales of thin specialty paper. Its main products are cigarette paper, filter stick paper, aluminum foil liner paper, etc. As the largest cigarette supporting series paper manufacturer in China, in recent years, Hengfeng Paper's comprehensive market share of cigarette supporting paper has remained number one in the country. In 2011, the company's comprehensive market share of cigarette supporting paper products was 31.25%, of which the cigarette paper market share was 24.88%, filter paper market share was 43.44%, and tobacco aluminum foil liner market share was 35.19%. The market share of tobacco backing paper base paper was 23.66%. Operating income has been growing steadily for many years and has established a leading position in the industry.