The cornerstone of mineral resource development lies in Guizhou Fulin Mining Co., Ltd. (henceforth referred to as “Fulin Mining”). Fulin Mining has a phosphorus mining capacity of 3 million tons per year and more than 170 million tons of reserves.Chanhen also controls 49% of the equity of Weng’an Tianyi Mining Co., Ltd. Tianyi Mining owns the right to the Tiger Cave Phosphorus Mine in Weng’an County. The phosphorus mine has 370 million tons of high-quality phosphate ores reserves, and is currently undergoing engineering construction with a mining and beneficiation capacity of 5 million tons per year.