Download and read the most recent annual report for Nine Dragons Paper (Holdings) Limited (NDP) for fiscal year 2017/18 and answer the following questions.

1. Read the Chairladys Report and the Management Discussion and Analysis section.
   1. Who is the Chairlady of NDP?
   2. How was NDPs performance in 2017/18? Also comment on the primary services that the company provides, including recent developments.
   3. Discuss the outlook for the future.
2. Answer the following questions by reading the financial statements and accompanying Notes to the Consolidated Financial Statements. If you cant find pertinent information state that fact in your report.
   1. 1. Under what cost convention is the basis of preparation for NDPs financial statements (e.g. historical cost or fair value)?
      2. What new or revised accounting standards were adopted by NDP during fiscal year 2017/18?
      3. What are the accounting policies for property, plant and equipment? What depreciation method(s) is (are) used and what are the terms?
      4. What intangible assets does the company report? What is the accounting policy for intangible assets?
      5. What major categories of inventory does NDP report and how does NDP account for such Inventories?
      6. What are NDPs revenue recognition policies?
      7. What are the categories of trade receivables reported by the company? How much is receivable in each category in 2017/18?
      8. How many shares had been issued by the company as of the beginning of 2017/18? How many shares were issued during the year? How many shares were repurchased? How many shares were outstanding at the end of the year

   2. Compute the following financial ratios for NDP for 2017/18 using information from the Annual Report and Financial Statements. Show detailed calculations. Use the average of account balances where appropriate.

      	Ratio/Value	Numerator	Denominator	Answer
      A	Current Ratio
      B	Quick Ratio
      C	(Trade) Receivable Turnover*
      D	Inventory Turnover
      E	Return on Assets
      F	Return on Total Equity
      G	Debt Ratio
      H	Times-Interest-Earned