In June 2018, the Group acquired two fully-integrated pulp and paper mills in the U.S., located in Rumford, Maine and Biron, Wisonsin respectively. In October 2018, the Group completed the acquisition of a pulp mill in Old Town, Maine, U.S. In November 2018, the Group completed its acquisition of a recycled pulp mill in Fairmont, West Virginia, U.S.

In June 2008, PM18 and PM19 commenced production in Dongguan, increasing production capacity of corrugating medium and linerboard by 0.35 million tonnes and 0.45 million tonnes respectively.

In the same month, PM20 and PM 21 commenced production in Taicang, the annual design capacity of linerboard and corrugating medium increased by 0.45 million tonnes and 0.35 million tonnes respectively.

In January 2007, PM11 commenced production in Dongguan, bringing the Group's total annual production capacity in coated duplex board to 950,000 tonnes. Within the same month, PM16 and PM17 also commenced production in Taicang, adding 700,000 tonnes of high performance corrugating medium. In August 2007, PM12 and PM13 commenced operations and the total annual designed capacity reached 5.35 million tonnes per annum.

After a decade of experience in the industry, in 2006, Nine Dragons Paper has entered the prime of its growth phase with a group management style. Nine Dragons Paper has a well-established management system that emphasizes fairness and impartiality, coordination and a peaceful workplace atmosphere, which together embody the Nine Dragons Spirit of "dedicated and devoted, united and progressive, focusing on quality, honesty and reliability". Nine Dragons Paper is becoming a modern business group with corporate practices in line with international standards.

Nine Dragons Paper was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 3 March 2006 and was included in the Hang Seng Composite Index Series. With 10 years' outstanding track record, Nine Dragons Paper is making steady and confident strides towards excellence to create a glorious future.

High performance corrugating medium production lines PM6 and PM7 commenced operations in October 2004 and subsequently bringing Nine Dragons Paper's aggregate annual production capacity increased to 2.35 million tonnes in 1 January 2005. The addition of corrugating medium effectively expanded the variety and market reach of the Company. More encouraging is that Nine Dragons Paper's products, given their high degree of popularity and market acceptance, recorded impressive sales across the board. We have secured a relatively large market share not only in Guangdong, but also across China, as the promising growth momentum in our productivity and sales continues.

Nine Dragons Paper successfully obtained the ISO Quality and Environmental Standard Certifications and the Occupational Health and Safety Management System Certification in 2003 to 2006. With the implementation of these effective controls, the Company's performance in product quality, environmental protection and work safety have been improving continuously. Besides, international management practices have also been incorporated to align the management standards of Nine Dragons Paper with those of the international community.

With unique insight, Nine Dragons Paper identified the future development direction of the industry and purchased more than 3,800 acres of land in Taicang and Dongguan in 2000 to 2002. In November 2003, PM5 was installed and commenced operation. It was later acquired by Nine Dragons Paper on 1 January 2005. In April 2005, PM8 had a successful test run and subsequently raised the total annual production capacity of the Taicang production base to 950,000 tonnes. The establishment of the Taicang production base proved Nine Dragons Paper tobe a successful two-prong packaging paperboard production network covering the Pearl River Delta and the Yangtze River Delta.

In July 1998, the first paper machine, or PM1, with an annual design production capacity of 200,000 tonnes of kraftlinerboard at the production base in Dongguan operated by a subsidiary of Nine Dragons Paper (Holdings) Limited achieved success in its test run. This event marked the entry of Nine Dragons Paper to the packaging paperboard production industry in China and was a good start to laying the foundation for a business that thrives for a century.