We are an established Measuring and Cutting Tools trading centre operator in China. We own, operate and manage our Trading Centre located in Qianyangxia Village, Wenqiao Town,Wenling City, Zhejiang Province, the PRC. Our principal activity and source of revenue were primarily derived from property leasing business through our operation of the Trading Centre for the Measuring and Cutting Tools industry. We aim to expand such property leasing business in the Measuring and Cutting Tools industry into the Industrial Park. Our Trading Centre is a four-storey commercial complex with basement with a total GFA of approximately 74,204.7 sq.m., of which a total GFA of approximately 71,817.5 sq.m. is held for investment purpose and a total GFA of approximately 2,387.2 sq.m. is held for our own offices.
Since our establishment, Wenling City Market Group Company Limited (温岭市市场集团有限公司) has been one of our Controlling Shareholders. Market Group is a well-established and sizeable state-owned enterprise in Wenling City, Zhejiang Province, which is wholly-owned by the Wenling City Market Development Service Centre. Market Group is principally engaged in investment and development and utilisation of major commodity market project. Its main responsibility includes financing, construction and management of various types of commodity trading market. Given our competitive strengths in terms of our market position in the Measuring and Cutting Tools market, and the background of our Controlling Shareholders as well as various support of the Wenling City Government, Taizhou Municipal Government and Wenqiao Town People’s Government, we are well-positioned to further strengthen and enhance our market position in the Measuring and Cutting Tools market as a whole.