Founded in June 1986, Fujian Hua Min Import & Export Corp. was formerly a large-scale and state-owned comprehensive foreign trade enterprise in Fujian Province. It was restructured from a state-owned enterprise to a limited liability company and renamed to Fujian Hua Min Imp. & Exp. Co., Ltd. (the Company) in May 2003, with the registered capital of RMB 60 million yuan. There are currently more than 3,000 staff members and workers in the Company. Its total assets and annual turnover had reached RMB 1,500 million yuan and RMB 6,000 million yuan respectively by the end of 2007.

    There are six functional management departments in the Company: General Office, Documents & Customs Clearance Department, Planning & Finance Department, Import & Export Department, Investment Management Department and Funds Management Department, under which there are 28 trading subsidiaries and 10-odd share holding companies, including such trading type of companies as Fujian Hua Min Overseas Employment Service Center, Fujian Hua Min Medical Equipment Co., Ltd. and six other import and export companies based in Shanghai, Jiangsu, Xiamen, Putian, Jinjiang and Shishi, in addition to two production-and-marketing integration companies: Nanping Hua Min Automobile Fitting Industrial Co., Ltd. and Sunny Time ForestryDevelopment(Fujian)Co., Ltd., which are engaged in production of parts and components for automobile engines and forest resource exploitation respectively. In order to expand its overseas markets, the Company set up two wholly-owned subsidiaries overseas, that is, Wide China Trading Ltd. (HK) engaging in trading business and Hua Min (Russia) Co., Ltd. in production and sales of footwear. Besides, never losing a single opportunity for diversified investments, the Company successfully purchased and acquired a 12-floor property, storefronts and parking places, all of which are located in Fuzhou World Jinlong Building and come to an area of 27,000 m2. In addition, the Company has started up its ventures in the exploitation of mineral resources and the development of biological science and technology.

    Export and Import: leading enterprise of foreign trade and big foreign exchange earner.

    The Company has instituted sound and strict systems for its internal management and is in possession of a contingent of high-caliber business personnel. It took the lead in passing the accreditation of the ISO 9001-2000 Quality Control System and was granted the accreditation certificate accordingly in 2004. As one of the earliest companies to have passed the accreditation audit in the foreign trade sector in Fujian Province, the Company has built up a good image and won public praise in foreign trade industry. During the period from the Company restructuring in 2003 to 2006, its trade volume ranked the first in Fujian foreign trade enterprises in successive years and stood out the 17th place among the Fujian Top 100 enterprises. The Company’s import and export volume totaled up to RMB 640 million yuan, RMB 520 million yuan and RMB 560 million yuan in the three years 2004-2006 respectively. It took the 94th and the 151st places among the 200 largest enterprises in 2004 and 2005 respectively. Hua Min Imp. & Exp. Co. Ltd. has become a leading foreign trade enterprise and a big foreign exchange earner in Fujian Province through the continuous efforts made by the Company in the last few years.

    Automobile fittings production: the base of automobile fittings and a new profit-growing point.

    Based on its management philosophy of “advancing with assurance and innovating audaciously”, the Company purchased Nanping Automobile Fitting Co., and became its majority shareholder with controlling power in July 2004. Formerly belonged to China National Automotive Industry Corporation, Nanping Automobile Fitting Co. is a large state-owned company, and is director-general factory of China’s Automotive Industry Society’s vehicular piston and ring committee and the executive director unit of National Standardization Technical Subcommittee’s pistons and rings, specializing in development and production of such four big categories of products as piston rings, pistons, cylinder sleeves and piston pins used in engines of various kinds of automobiles and motorbikes. It is the domestically unique factory supplying piston rings, pistons, cylinder sleeves and piston pins for vehicle engines at present. The factory occupies a land area about 140 mu (approx. 9.3 hectares), with more than 1,300 staff members and workers, including 170-odd professionals and technical personnel. It has taken full advantage of vigorous demands in domestic markets and Hua Min head office’s enormous export marketing networks to expand its markets at home and abroad, and has made and constructed itself into a base of automobile fitting production in Fujian Province. The sales revenue and annual net profit of the company in 2006 reached RMB 150 million yuan and about RMB 14 million yuan respectively.

    Forestry and planting development: a long-term project for the sustainable development.

    In September 2004, the Company embarked on forest planting and exploitation of forestry resources. For that purpose, it has established a company by name of Sunny Time ForestryDevelopment(Fujian)Co., Ltd. and leased over 150,000 mu (approx. 10,000 hectares) of forest land in Fujian Province to plant primarily fast-growing and high-yielding trees with eucalypts as the main species; meanwhile with its majority share, the Company successfully got control of Furen Forestry Limited Company of Jian’ou, Fujian Province, which owns 9 forest cutting and planting farms with a total area of 500,000 mu (approx. 30,000 hectares) and annual cutting volume coming to 120,000 m3. On the other hand, the Company has started the integrated forest-panelboard project and proceeded to the expansion and extension on the related industry chains by investing in and set up two enterprises for deep-processing of forest products, specializing in the production of medium／high density artificial panels and wedge joint boards to increase the added value of forest products. At present, the annual output of medium／high density artificial panels has come to 150,000 m3. In addition, by agreement, the Company purchased and acquired the majority party of equity stakes of Mingxi Forestry (General) Company, a company owning a 460,000-mu forestry base (approx. 30,000 hectares). Through elaboration over years, the forestry area that the company possesses reaches more than 1 million mu (approx. 67,000 hectares).

    Investment in real estate: low risk, high return and long-term appreciation potential

    In November 2005, the Company purchased and acquired a property consisting of 12 floors, storefronts and parking places in Fuzhou World Jinlong Building that formerly belonged to Fortune Holds Development and Good Dragon Investment Limited under Bank of China （Hong Kong）. The acquired property has an area exceeding 20,000 m2 in all. The asset value of this invested property has now doubled, obviously with a real long-term appreciation potential.

    Investment in Russia: bring the comparative advantages into full play and implementing the strategy of "going to the outside world”

    The Company invested RMB 10 million yuan in Russia and successfully set up Hua Min (Russia) Imp. & Exp. Co.,Ltd. to specialize in the development, production and sales of footwear. In that way, it took the first step towards the Company’s overseas direct investment in 2004. At present, the company is capable of producing 2.8 million pairs of EVA loafers annually with sale proceeds reaching RMB 30 million yuan. In cooperation with the biggest umbrella-making group company——Hengtong Company, the Company promoted the “Susino” brand umbrellas to find a smooth way into Russian market in 2006 and now the annual sales value come to about USD 5 million. It has made the Company further integrate into global economic system and the strategy of “going out to the outside world” has yielded good results.

    Investment in Mining: taking a road to the new-type industrialization and creating internationally first-class mining industrial base

    The Company has invested in mineral prospecting, ore separating, mining, smelting and processing of a series of metallic products which primarily cover lead-zinc, tin, copper, gold, lithium, etc. At present, the company sets about putting RMB 30 million yuan into the development and construction of a mill for mining and dressing of spodumene ore. The ore resources are mainly located at Yelong Canyon and Taiyang River, Jinchuan, within A Ba Prefecture, Sichuan Province. Meanwhile, this Company is planning to invest RMB 50 million yuan into the research and development, production, processing and sales of lithium hydroxide, lithium carbonate, lithium alloys and lithium ingots. It is anticipated that the Company will attain sales of metallic mines of various kinds up to more than USD 7 million in value at the beginning of 2009.

    Investment in biological science and technology: depending on scientific and technological innovation and nurturing industries with characteristics

    In collaboration with transnational pharmaceutical companies, the Company has made use of foreign advanced research and development facilities and top-level modernized management and operation to get involved in biological science and technology industry. In 2007, the Company and Canada (International) Rotam Enterprise Ltd. jointly invested in the project of taxus cultivation and taxol extraction in Mingxi County, Fujian Province. A breakthrough has been made in the pivotal technical problems of artificial breeding and processing of Taxus Chinensis Var Mairei, by the application of the advanced techniques of species plant breeding, fast-growing and high-yielding, extraction of taxol from branches and needles of taxus to realize the industrialized extraction of taxol from artificial Taxus Chinensis Var Mairei, and as a result, remarkable economic effects have been achieved. This project contains vast and tremendous potential for future development. The Company had purchased 1,200 tons of branches and needles of taxus and realized sales value of RMB 22 million by the first half of the year 2007.

    The Company will continue pursuing the aim of “people-oriented business operation with credibility” and devoting more efforts to winning over new customers and to building up long-term, stable and friendly trade relationships, so as to maintain the position of a leading enterprise of foreign trade in Fujian Province. The Company will give the first priority to such business as import and export, exploitation of forestry resources, production and sales of automobile fittings, investment in real estate, biological science and technology, mining development, etc. While consolidating the acquired advantages and strengthening the leading position in the market, the Company is making great efforts to continuously enhance its core competitiveness for its contribution to the development of the economy along the Western Bank of Taiwan Straits.