FORM 1 - Individual Substantial Shareholder Notice
Form Serial No: IS20110124000127 
1. Name of listed corporation: Qunxing Paper Holdings Co. Ltd. 
2. Stock code: 03868
3. Class of shares: 普通股 
4. Number of issued shares in class: 1,586,391,450
5. Name of substantial shareholder (English) as printed on HKID/Passport:
(Surname) Wang
(Other names) Ruiyun
8. Name of substantial shareholder (Chinese): 王瑞云 
9. Chinese Character Code:
12. Date of relevant event: 21/01/2011
13. Date when the substantial shareholder became aware of the relevant event/ interest in the shares (if later): 24/01/2011
14. Details of relevant event:
  Relevant event code describing circumstances Code describing capacity in which shares were/are held Number of shares bought/sold or involved Currency of transaction On Exchange Off Exchange
Before relevant event After relevant event Highest price per share Average price per share Average consideration per share Consideration code
Long position  101  205  205  206,560,000  HKD         
15. Total shares immediately before the relevant event:
 Total number of sharesPercentage figure (%)
Long Position00.00
16. Total shares immediately after the relevant event:
 Total number of sharesPercentage figure (%)
Long Position206,560,00013.02
17. Capacity in which interests disclosed in Box 16 are held:
Code describing capacityNumber of shares
Long position206,560,000
18. Further information in respect of derivative interests:
Code describing derivativesNumber of shares
Long position206,560,000
19. Further information in relation to interests of children under 18 and/or spouse:
Name of child/spouseNumber of shares
20. Further information in relation to interests of corporations controlled by substantial shareholder:
Name of controlled corporationAddress and place of incorporationName of controlling shareholder% controlDirect interestNumber of shares
Victory Asset Management HK LimitedPalm Grove House, P.O. Box 438, Road Town, Tortola, British Virgin IslandsWang Ruiyun100.00Y
Long position206,560,000
21. Further information in relation to interests held by substantial shareholder jointly with another person:
Name of joint shareholderAddressNumber of shares
22. Further information from a trustee, or beneficiary of a trust, or a person who has set up a Discretionary Trust:
Names of TrustAddressStatus codeNumber of shares
23. Further information from a party to an agreement under Section 317:
Names of other partiesAddressNumber of shares
Total number of shares in which substantial shareholder is interested under section 317 and 318:
24. Date of filing this Form 1: 24/01/2011
26. Number of attachments: