Fujian Zhong Fu Industries Co., Ltd. China (Mainland)

Fujian Zhong Fu Industries Co., Ltd. (hereinafter "Zhong Fu Industries") was set up in 1993, with approval of the documents - "Fujian Economic Restructuring (1993) No. 078" and "Fujian Economic Restructuring (1993) No. 134" by Fujian Provincial Economic Restructuring Commission. In March 1996 it was listed on the Shenzhen Stock Exchange with securities code of 000592. In the year of 2008 through asset restructuring, the new majority shareholder Sunny Time Forestry Development (Fujian) Co., Ltd. injected its high quality forestry assets into Zhong Fu Industries, which then resumed listing on the stock market smoothly on April 14, 2008. Since then, the company's main business changed into forest plantation, forest products processing and sales. At present, the registered capital for Zhong Fu Industries is 579,051,565 RMB yuan, and the registered address is 9A World Jinlong Building, 159 Wusi Road, Fuzhou. Zhong Fu Industries owns 8 subsidiaries now: Jianou Fu Ren Forestry Co., Ltd. in Fujian Province, Jianou Fu Ren Woodworking Co., Ltd. in Fujian Province, Jianou Fu Ren Seedlings Co., Ltd., Jianou Fu Sen Woodworking Co., Ltd., Zhangzhou Zhong Fu Woodworking Co., Ltd., Heng Feng Forestry Co., Ltd. in Mingxi County, Fujian Green Min Forestry Development Co., Ltd. and Longyan Sunny Time Forestry Co., Ltd.. Zhong Fu Industries possesses about 1 million Chinese mu of forestry management areas in Jianou, Mingxi and other places in Fujian province; one of its subsidiaries -- Jianou Fu Ren Woodworking Co., Ltd. has a production line for MDF with an annual production capacity of 100,000 m3 as well as a production line for MDF (thin sheet) with an annual output of 50,000 m3, and the products sell well; Zhangzhou Zhong Fu Woodworking Co., Ltd. which is under construction will introduce from abroad a production line for MDF with an annual capacity of 220,000 m3, and the preparatory work of this project is well under way. From the strategic point of view for the company's development, Zhong Fu Industries will make use of the advantageous natural conditions locally, to develop the fast-growing high-yield forests and the industrial raw material plantations; and will center on the development of forest lands and the expansion of forest resources, to gradually increase market share for the products; and will implement the strategy of integrating the forest and wood board with market as the orientation and with product as the basis, to move towards the goal as the leading enterprise in modern forestry. On the regional development plan, we will rely on Fujian first of all and take advantage of the regional resources, to become larger and stronger; and on this basis, we will explore the main lines of business nationally.