Hunan Valin Steel Co., Ltd.

Hunan Valin Steel Tube & Wire Co., Ltd is principally engaged in the steel industry. Headquartered in Changsha, Hunan Province, the Company offers steel bars, steel wires, hot-rolled steel plates, cold-rolled steel plates, zincification plates, steel strips, condensor pipes, steel pipes, section steel products, copper plate pipes and aluminium products. During the year ended December 31, 2007, the Company manufactured approximately 9.76 million tons of iron, 11.12 million tons of steel and 10.48 million tons of steel products. Its products are distributed all over Mainland China and are exported to overseas market. As of December 31, 2007, the Company had six major subsidiaries/associates.