(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3868) LIST OF DIRECTORS AND THEIR ROLES AND FUNCTIONS

The members of the board of directors ("Board") of Qunxing Paper Holdings Company
Limited with effect from 21 March 2014 are set out below.

Executive Directors

Mr. GUO Guang Quan (Chairman)
Mr. YANG Li Quan

Independent Non-executive Director

Mr. GUO Liang Yong
There are 4 Board committees. The membership information of each committee is set out below.

AUDIT COMMITTEE

Mr. GUO Liang Yong (Committee Chairman)

EXECUTIVE COMMITTEE

Mr. GUO Guang Quan (Committee Chairman)
Mr. YANG Li Quan

NOMINATION COMMITTEE

Mr. GUO Guang Quan (Committee Chairman)
Mr. GUO Liang Yong

REMUNERATION COMMITTEE

Mr. GUO Liang Yong (Committee Chairman)
Mr. GUO Guang Quan
Hong Kong, 21 March 2014

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