I. Basic Overview

　　Our company was established in 2012 and is located in Zhuzhou, Hunan Province—the national production base for cemented carbides and raw materials. We specialize primarily in the research and development, as well as the manufacturing and processing of high-temperature carbide raw materials used in cemented carbides. Our company serves as an industry-university-research collaboration base for Hunan University of Technology and maintains close R&D partnerships with several prestigious universities, including Central South University and Hunan University, particularly in the field of high-temperature carbides. Under the leadership of our dedicated R&D team, we have secured two national invention patents and three national utility model patents, with an additional two patents currently under application. Our contributions have significantly advanced the development of domestic cemented carbide materials.

　　Main products: Chromium carbide, titanium nitride carbide, vanadium carbide, tantalum carbide, niobium carbide, carbon-niobium solid solution, titanium carbide, tungsten-titanium solid solution, molybdenum carbide, tungsten-titanium-nitrogen solid solution, and tungsten-titanium-tantalum solid solution, among others.

　　II. Business Performance (including Operating Revenue and Taxes Payable)

　　In 2022, the company achieved sales of 50 million, with annual tax payments exceeding 2 million.

　　III. Team Status

　　Our company has established an Enterprise Technology Research and Development Center and assembled a dedicated R&D team. Currently, the core members of the R&D team number 3, accounting for 23.08% of our total workforce of 13 employees as of the end of 2022. The R&D personnel specialize in fields such as powder metallurgy and metal powder materials. In addition, our company has 5 key management personnel, primarily responsible for sales, finance, and administrative management. Looking ahead, over the next few years, we will align our efforts with the company's growth objectives and technological development goals, intensifying our initiatives to attract and cultivate talent. Our aim is to build a highly professional and well-structured human resources team with outstanding expertise and competence.

　　IV. Development Plan

　　From 2020 to 2022, after three years of dedicated efforts, the company has successfully completed its internal shareholding reform. To support Hongri New Materials in independently entering the capital market and fully unlocking its industrial value, the company plans to cultivate and list itself on the regional equity market in Hunan Province within the next three years. Over the next five years, the company anticipates continuing to increase investment to execute the second-phase expansion and upgrade plan, ultimately achieving a production capacity of 200 million units upon full operation.