We are mainly engaged in the production and sale of flake graphite concentrate and spherical graphite in China. We have two main operating entities, namely Heilongjiang Baoquanling Nongken Yixiang Graphite Co., Ltd. (“Yixiang Graphite”) and Heilongjiang Baoquanling Nongken Yixiang New Energy Materials Co., Ltd. (“Yixiang New Energy”). In June 2006, we started operations and established Yixiang Graphite to process flake graphite concentrates (mainly between 94% and 96.8% carbon content). In April 2011, we expanded our business and established Yixiang New Energy to process spherical graphite and mine operations at the Beishan mine. In 2019, we obtained mining rights for a graphite mine located about 28 km northwest of Luobei County in Heilongjiang Province. In 2019, we began mining at this site.
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