Jiangxi Mingzheng Transformation Equipment Co., Ltd. (hereinafter referred to as the Company), a subsidiary of the Mingzheng Group, is a leading backbone enterprise in the manufacturing base for transformers in Jiangxi Province. Formerly a state-run transformer manufacturer in Jiangxi Province, the Company has accumulated mature technology and comprehensive techniques in manufacturing transformation equipment over the past 45 years, not only appointed by the Ministry of Energy Industry and the Ministry of Machinery Industry as one of the designated transformer manufacturing enterprises, but also recommended by the State Economic and Trade Commission as the successful enterprise under the [Projects to Upgrade Urban and Rural Power Grids". Located in the Chongren County Industrial Park of Jiangxi Province with registered capital of RMB 111.6 million, the Company is an independent legal entity with limited liability, owned by shareholders and represented by its legal person Sun Jianhui. The Company is mainly engaged in the research, development, manufacture, and sales of the transformation equipment such as air-immersed transformers, oil-immersed transformers, prefabricated substations (European box-type substation, American box-type substation), high- and low-voltage switchgears, etc. The Company also owns Jiangxi Technical Center (currently a provincial level technology research and development center yet been applied to qualify as state level) and public technology services platform. The company currently employs more than 700 people, including high-quality management personnel with college education more than 210 people, accounting for 30% of the total number of employees. With properly managed organizational structure, the Company consists of the Board of Shareholders, the Board of Directors (composed of six directors), and the Board of Supervisors (composed of three members, I. E. A representative of the shareholders, and two representatives of the employees) operating all in strict accordance with the articles of corporation. Under the implementation of the general manager-oriented responsibility system, the general manager is appointed under whom also hired are the vice presidents, one each respectively, in technology, quality, production, procurement/supply, and sales.