Founded in 1995, Wuxi Huayang Co., Ltd., is in the business of supplying precision rolled rings for use in the wind energy industry. Through its affiliates, Huayang Dye Machine and Huayang Electrical Power Equipment, collectively known as the Huayang Companies, the Company manufactures and sells industrial equipment for use in the textile and coal power industries in the Peoples Republic of China. Huayang Dye Machine was founded in 1995 by Mr. Jianhua Wu, when the textile and dyeing industries began to gain traction in China, by becoming a direct supplier of textile dyeing and finishing equipment to textile producers in China. Huayang Electrical Power Equipment was established in 2005 to supply the coking plants and coal-fired power stations in China with efficiency-producing power equipment. In first half of 2007, China Wind Systems launched its wind energy business by supplying forged rolled rings to the wind industry. The Company can supply rolled rings less than 6.3 meters in diameter, weighing less than 12 tons, shafts used for 1-3MW wind turbines and various types of free forgings less than 50 tons. The forgings are primarily used in the railway, heavy manufacturing, petrochemical, metallurgical, sea port machinery, defense and radar, as well as wind power industry. The Company intends to manufacture its own forged rolled rings and other wind components and is currently in the first phase of expansion and is installing new equipment at its new manufacturing facility located in Wuxi City, the Peoples Republic of China, the construction of which is expected to be finished by October 2008.