We are principally engaged in the production and sales of flake graphite concentrate and spherical graphite in the PRC. We have two principal operating entities, Heilongjiang Baoquanling Farmland Yixiang Graphite Company Limited* (黑龍江省寶泉嶺農墾溢祥石墨有限公司) (“Yixiang Graphite”) and Heilongjiang Baoquanling Farmland Yixiang New Energy Materials Company Limited* (黑龍江省寶泉嶺農墾溢祥新能源材料有限公司) (“Yixiang New Energy”). In June 2006, we commenced operations and established Yixiang Graphite for engaging in the beneficiation of flake graphite concentrate with carbon content mainly between 94% and 96.8%. In April 2011, we expanded our operations by establishing Yixiang New Energy which is engaged in the processing of spherical graphite and the extraction operations at our Beishan Mine. In 2019, we acquired the mining rights of our graphite mine located approximately 28 km northwest of Luobei County in Heilongjiang Province in which we began extraction in 2019.