Huixian Taiyangshi Textile Co., Ltd. was founded in January of 1988, and reformed as a nonpublic enterprise at the end of 2002. After 18 years’hard work and progressive development, it has developed from the original scale of 5000 spindles, 280 employees and fixed assets of RMB 4.64 million into nowadays 275 thousand spindles (1512 of which are rotor spinning ones), one 2×6000KW cogeneration plant and two terylene staple production lines with annual produce of 6000 tons. It occupies an area of 192000 sq.m. and 98000 sq.m. as building area, with 2600 employees and total assets of RMB 3350 million. It has powerful technical force, complete quality assurance system and advanced testing equipments. It produces three series including cotton, chemical fiber and blended yarn below 80 counts, totally over 50 kinds of products. For variety and quality of products as well as our service, we have established and popularized our brand "miaoting". Our products are sold well in Jiangsu, Zhejiang, Guangdong, Shanghai, Shandong, Hebei, Shanxi, Hubei and other provinces and all areas in our province as well. In these 8 years, we realized balance of production and marketing each year, and the capital recovery reached a hundred percent.

We as people of Taiyangshi always stick to the unitive and realistic attitude and scientific development view, keep on improving the modern enterprise management system, and focus on cost management and human-centered management; we try our best to improve the output and quality; we established the enterprise basing on "credit", and develop the enterprise basing on "quality". Now we have obtained considerable technical benefits and social benefits. Till the end of 2005, we have accumulatively reached sales income of RMB 3.63 billion, realized profits of RMB 141 million and turned over taxes of RMB 278 million. In the first half year of 2006, we reached the sales income of over RMB 150 million, realized profits of RMB 1614 thousand, and turned over taxes of RMB 7576 thousand. We were successively awarded the titles of "State-level Advanced Enterprise", "Provincial Excellent Private Enterprise", "Excellent Textile Enterprise of Henan Province", "Star Tax-payer of Xinxiang City", and "Advanced Enterprise of Local Financial Contributor of Xinxiang City", etc.

2006 is a "Quality & Benefit Year" for Taiyangshi. We will continue take people as the base, take strict, efficient and all-round management as the center, actively introduce advanced operative ideas, and strengthen the "Seven Innovations" in enterprise management system. We will also increase capital input, strengthen technical innovation, make best of our advantages on scale, technology and market, and reinforce risk resistance and competitive force of our company in the market, to try to make Taiyangshi even more powerful.