Chongqing Tianqin Materials Co., Ltd.

Chongqing Tianqin Materials Co., Ltd. (abbreviated as CTM) was established in February 2007 and is located in Yanjia Industrial Park, Changshou District, Chongqing. It is a Sino-foreign joint venture controlled by Yunnan Yuntianhua Co., Ltd. (holding 50% of registered capital), with joint investment from Chongqing International Composite Materials Co., Ltd. (abbreviated as CPIC, holding 17.5% of registered capital), Fuyao Enterprise Co., Ltd. (holding 17.5% of registered capital), Saudi Mr. Kordi (holding 7.5% of registered capital), and Mr. Dughaither (holding 7.5% of registered capital).
The company is mainly engaged in the production of electronic-grade fiberglass cloth and industrial cloth. The main raw materials are stably supplied by CPIC with high-quality fine yarn, consuming approximately 1,800 tons of high-quality fine yarn supplied by CPIC per month on average, which is then woven into fiberglass cloth of various specifications. Electronic-grade fiberglass cloth is mainly used to manufacture copper-clad laminates (CCL), and copper-clad laminates are the specialized substrate for printed circuit boards (PCB). Printed circuit boards are increasingly widely used in fields such as aviation, aerospace, computers, communications, program-controlled machinery, and home appliances.
The company's total investment is USD 40 million, with registered capital of USD 20 million. The current total assets are RMB 562 million, with an asset-liability ratio of 82%. The company covers a total area of 75,000 m², of which the first phase of the project covers 45,000 m², and 30,000 m² of construction land is reserved for the second phase of expansion, with expansion planned for 2011.
In late September 2007, 400 air-jet looms were introduced from Japan, all of which were put into production in July 2008, equipped with other advanced equipment introduced from Germany and Taiwan, and also possessing water-jet fiber-opening treatment technology. In 2009, the annual production of fiberglass cloth was 79 million meters, with sales of 73 million meters and sales revenue of USD 38.5 million. The products are oriented to domestic and international markets, sold to East China, South China, South Korea, Japan, Thailand, and other places. Among them, Panasonic Group of Japan, Shengyi Group, International Lamination, etc. have become our stable customers.
The company currently has more than 360 employees. In the first half of 2010, the cumulative production of electronic-grade fiberglass cloth was 40 million meters, with sales of 44.23 million meters, achieving sales revenue of RMB 220 million and cumulative total profit of RMB 21.5 million. It is expected that in 2010, 82 million meters of electronic-grade fiberglass cloth will be produced, achieving annual sales revenue of RMB 310 million and profit of RMB 38 million.