Guangxi Yuanfengda Resource Technology Co., Ltd. was established in February 2012 with a registered capital of 50 million RMB. The company is located in Jinwo Industrial Park, Qinzhou City, Guangxi Province. The factory covers an area of 120 acres and is divided into three phases of construction. The first and second phases have been completed, with four major workshops including zircon workshop, titanium ore workshop, Jinhong workshop, and shaking table. In addition to the four major workshops, warehouses, office buildings, dormitory buildings and other supporting facilities, the factory also introduces a complete set of advanced production equipment such as shaking tables, shovels, and spirals. Currently, it processes 200000 tons of titanium ore sand annually. The third phase of the production line is currently under construction and is expected to be completed and put into production in September 2024. By then, the annual processing capacity of titanium ore sand will reach over 400000 tons. The factory is only 18 kilometers away from the port and 1 kilometer away from the highway intersection, with a superior geographical location. It is a comprehensive enterprise integrating mining area mining, import and export trade, and mineral product processing. The company's main products are titanium concentrate, rutile, zircon sand, monazite, etc. The main raw materials for production are titanium ore sand, titanium intermediate ore, zirconium intermediate ore, gold red intermediate ore, etc. The company has its own long-term and stable supply and sales customer base both domestically and internationally. We rely on our company's reputation and utilize the resource advantages of Southeast Asian, African and other countries to vigorously purchase resource-based raw materials such as titanium ore, zircon, and rutile from these countries, import them into China for processing and production, and sell them to domestic and foreign customers.

With the continuous expansion of the company's scale, in order to better meet the supply of raw materials, in recent years, our company has been committed to exploring and developing African countries' rutile mineral resources. In 2022, we registered an overseas investment in Sierra Leone mineral product mining project with the Guangxi Department of Commerce. At the same time, we invested in establishing a subsidiary of Fengshun Resources (Sierra Leone) in Sierra Leone in 2022 and applied to the Sierra Leone government for a 1 square kilometer rutile mining right. The first production line was completed and officially put into operation in March 2023, with a monthly output of 3000 tons. With the successful experience of the first production line, our company conducted further exploration and successively applied for one 120 square kilometer rutile mining right, one 2 square kilometer rutile mining right, and one 20 square kilometer rutile mining right. The total reserves of explored rutile mining reached 10 million tons. The infrastructure construction of the second large-scale production line with an area of 120 square kilometers has been completed in February 2024 and started production in August of this year. The third 2 square kilometer production line is currently under construction and is expected to start production in October this year. After all three production lines are put into operation, the output will reach 10000 tons/month in 2024 and 200000 tons/year in 2025. The fourth 20 square kilometer production line is expected to start building camps in January 2025. At present, the number of employees has reached 500, with 400 local employees and 100 Chinese employees. We will also build our own barge dock and selection plant in Sierra Leone, step by step going further.

Faced with the complex domestic and international economic environment, we are constantly examining ourselves while seizing opportunities, implementing bilateral strategic expansion, effectively integrating domestic procurement technology, talents, and funds, constantly improving ourselves, and enhancing our competitive advantages. In the future, our customers will not be limited to Southeast Asia, but we will go global and strive for trade diversification and globalization.

Our company has achieved remarkable development results since its establishment, contributing to the development of the local economy, promoting social labor employment, and taxation. But the future is still full of risks and challenges. We always adhere to the business philosophy of "focus, professionalism, efficiency, and integrity", maintain good cooperative relationships with customers, strive to achieve win-win through cooperation, and strive to become a responsible enterprise for employees, customers, and society. We hope to work together with like-minded individuals and companies both domestically and internationally to create a better future.