Innuovo Technology Co.,Ltd. (China)

With the approval of Shanxi Provincial People's Government, Taiyuan Twin Tower Aluminum Oxide Co., Ltd. was incorporated in the People's Republic of China as a joint stock limited liability corporation on May 28, 1997. The company’s A shares were listed on Shenzhen Stock Exchange on August 8, 1997. The company is principally engaged in the research, development, manufacture and distribution of rare-earth permanent magnetic materials and products, brown fused alumina products, as well as diamond products and sharpeners. It is also involved in the research and development of logistics equipment and information systems, as well as the provision of the related technical services. The company operates its businesses in China's domestic and overseas markets. As of December 31, 2009, the company had six major subsidiaries, mainly involved in the production and sale of neodymium iron boron magnetic materials and rare-earth permanent magnetic materials, the design and integration of logistics equipment systems, as well as import and export business and real estate business.