I. Overview: Yichang Fazhong Shipping Co., Ltd. is a comprehensive enterprise mainly engaged in shipbuilding and repair, and also operates in ship design and fishing vessel design, ship electrical equipment, processing and production of non-ship products, ship interior decoration, import and export of ship equipment, and tourism resource development. The company is located on the banks of Xiling Gorge between the Gezhouba Dam and the Three Gorges Dam on the Yangtze River in Yichang City, Hubei Province, enjoying unique geographical advantages. The company is affiliated with the Yichang Yiling District Economic and Trade Bureau, the Sandouping Town Party Committee and Economic and Trade Commission, and is under the industry supervision of the Yichang Municipal National Defense Science and Technology Office and the Hubei Provincial National Defense Science and Technology Commission.

　　II. Company Foundation: Yichang Fazhong Shipping was founded in May 1994. After nearly twenty years of hard work, it has developed into a large-scale private shipbuilding enterprise. The company has four shipbuilding and repair production bases. The headquarters is located in the inland Yangtze River waters between the Gezhouba Dam and the Three Gorges Dam. A shipbuilding and ship design branch company is located in Sandouping Town, where the Three Gorges Dam is situated. A ship electrical equipment and tourism resource development branch company is located in Yiling District. A shipbuilding branch company is located in Qingjiang, Badong County, and a Changyang shipyard is located in Moshi Town, Changyang County. A fishing vessel design branch company is also located in Yiling District. The company has built one 10,000-ton and one 5,000-ton dry dock, as well as two ship water repair engineering bases.

　　III. Company Capital: The company's registered capital is 10.18 million yuan, with existing fixed assets of over 96 million yuan. This includes 185 mu of land for shipyards, production sites, and office buildings; 13 shipways; a water area of 60,000 square meters; 860 meters of Yangtze River shoreline; 8,600 square meters of factory buildings; one 40M work barge; one 25M work barge; one 12-300KW ship power station load test vessel; three 200M ship outfitting wharves; 986 sets of various specialized production equipment; and a ship design company with 500 square meters of office space, 56 computers and various professional software. The company has an annual industrial output value of 380 million yuan.

　　IV. Company Qualifications: The company currently holds a Class II, Category II shipbuilding and repair production technology license issued by the Hubei Provincial National Defense Science and Technology Industry Office (No. (E) Ship License No. [2009] 51), a Class B ship design qualification certificate issued by the Hubei Provincial National Defense Science and Technology Industry Office (No. (E) Ship Design Certificate No. [2012] 3), a Class B fishing vessel design qualification certificate issued by the Fisheries Vessel Inspection Bureau of the Ministry of Agriculture of the People's Republic of China (No. YSR-12422602), and a Class C, Category I factory technical approval certificate for construction and repair (No. RK-26-Z-G-2-017). The company has passed the three-standard system certification, including the quality management system GB/T19001-2008 (ISO9001:2008) certification registration number HXC10Q003ROM, the environmental management system GB/T24001-2004 (ISO14001:2004) certification registration number HXG10E006ROM, and the occupational health and safety management system GB/T28001-2001 certification registration number HXC10S005ROM. The company has the capabilities for ship design and research, manufacturing and repair of ocean-going and inland towboats, pushboats, cargo ships, and tankers. It has built 2000T-5000T standard bulk carriers, 200-500TEU standard container ships, 3500T standard cargo-container combination ships, 8000T combined bulk and multi-purpose ships, 60-car standard ro-ro ships, near-shore heavy-lift ships, passenger ships, 20-200 passenger all-electric environmentally friendly and energy-saving tourist ships for the Yangtze River and lakes, fishing production vessels and law enforcement vessels, water engineering vessels, and various special vessels. It also undertakes the processing and manufacturing of complete ship electrical control systems, and contracts various ship and fishing vessel designs, ship import and export, pressure vessels, metal structure manufacturing and installation projects, and tourism resource development.

　　V. Enterprise Technical Personnel Structure: The company currently has 568 employees, with various professional and technical personnel and senior and intermediate certified technicians accounting for 75% of the total number of employees. This includes 20 senior engineers, 10 intermediate engineers, 10 junior engineers, 7 technicians, 3 senior economists, 3 accountants, 87 senior Class III welders, 65 intermediate Class II welders, 3 other special product welders, 380 hull riveters, 46 engine fitters, 16 ship electricians (including 7 senior electricians), 52 professional painters, 23 carpenters, and 39 enterprise management personnel.

　　VI. Enterprise Product Performance: Since its establishment, the company has built and designed a number of steel ships, including 8 2000T cargo ships, 9 3000T combined bulk and multi-purpose ships, 15 3500T standard cargo-container combination ships, 26 5000T multi-purpose cargo ships, 15 2000T standard bulk carriers, over 30 8000T combined bulk and multi-purpose ships, 16 200-500TEU standard container ships, 3 34-car ro-ro ships, 8 47-car ro-ro ships, 12 60-car standard ro-ro ships, 5 Two Dams and One Gorge tourist ships, 6 fishery administration and law enforcement boats, and 3 multi-purpose crane barges, totaling over 160 ships built and over 300 ships repaired. From 2007 to 2012, the company built two 60-meter long tourist barges and six 80-meter long antique tourist barges for the Three Gorges Dam Group. The company also independently designed and developed six environmentally friendly and energy-saving all-electric variable-frequency speed control tourist passenger ships, obtaining a key new product project certificate from the Ministry of Science and Technology (certificate number 2007GRDI0031), ten patents for environmentally friendly and energy-saving new products, six invention patents, and over 60 sets of unmanned ship engine room all-electric remote control devices. The design company has designed and approved the construction of over 20 new antique cruise ships ranging from 50 to 500 passenger capacity for Yangtze River and Qingjiang cruise companies. It has also designed 10 new 3500-ton standard combined bulk and multi-purpose ships for the Yangtze River, receiving an award from the Yangtze River Shipping and Transportation Department. The company's design of all-electric environmentally friendly tourist ships for open waters or B-class navigation areas has received provincial and municipal science and technology awards. The company has received positive feedback from the Ministry of Science and Technology, China Classification Society (CCS), provincial and municipal ship inspection departments, fishery inspection departments, and Yangtze River shipping enterprises. Through the construction, design, and development of these products, the company's overall strength and technological level have reached a new stage, accumulating rich scientific and technological experience and quality assurance system experience, and laying a solid foundation for future development.

　　VII. Company Honors and Mission: Yichang Fazhong Shipping Co., Ltd., adhering to the principles of quality for survival, speed for efficiency, and honoring contracts and keeping promises, has continued to grow and develop in the face of market economic challenges. In 2000, it was recognized by the town government as one of the "Top Ten Private Enterprises." In 2010, it was awarded the honorary title of "Enterprise that Honors Contracts and Keeps Promises" by the municipal government. In 2005, it was awarded the honorary title of "Creditworthy Shipbuilding Enterprise" by the Yiling District Transportation Bureau. From 2006 to 2010, it was awarded patent certificates and honors for environmentally friendly and energy-saving all-electric tourist ships by the State Intellectual Property Office. From 2007 to 2010, it was awarded as an advanced unit in science and technology and intellectual property rights by the municipal, provincial, and national science and technology departments. The company has the ability and confidence to win the trust and support of more users in the face of fierce market competition, with better products, higher technological content, more reasonable prices, and better after-sales service, making new contributions to the Yangtze River shipping and environmentally friendly and energy-saving tourism industries.