Baoding Fengfan New Energy Co., Ltd. was established in July, 2006, which is a subsidiary wholly owned by Fengfan Co., Ltd. (stock code: 600482). It is a high technology enterprise with R&D, manufacture and sales for high power and high energy lithium-ion battery. The total planning investment of the first period is USD35 million, the output of all kinds of battery is 30 million pieces per year by the end of 2007. The total planning investment of the second period is USD40 million, by the end of 2010, the yearly output of all kinds of battery will be 100 million pieces. The total planning investment of the third period is USD40 million, by the end of 2015, the yearly output of all kinds of battery will be 200 million pieces. At that time, our company will become one of the largest professional manufacturer of lithium-ion battery in China.