ZHEJIANG MATERIALS DEVELOPMENT CO., LTD, formerly Southern Building Materials CO., LTD., is principally engaged in the wholesale of construction materials, energy, machinery and electronic equipment. The Company is also involved in the operation of taxi business and hotel business. The Company provides metal materials and metallurgy materials, automobiles and related services. The Company primarily operates its business in domestic markets. During the year ended December 31, 2011, the Company totally sold 4,462,300 tons of various steel products, 3,119,900 tons of iron ore, 265,500 tons of manganese ore, and 63,300 tons of ferroalloy. As of December 31, 2011, the Company totally sold 20,756 automobiles, and owned 1,005 taxis.