DESCRIPTION OF BUSINESS AND ORGANIZATION (Tables)

6 Months Ended

Jun. 30, 2012

Details of Subsidiaries

As of June 30, 2012, details of the subsidiaries of the Company are as follows:

Subsidiaries’ names	Domicile and date of incorporation	Paid-up capital		Effective ownership			Principal activities
Ally Profit Investments Limited (“ Ally Profit ”)	British Virgin Islands March 12, 2008	$	100		100	%	Holding company of other subsidiaries
Lihua Holdings Limited (“ Lihua Holdings ”)	Hong Kong April 17, 2008	HK$	100		100	%	Holding company of other subsidiaries
Danyang Lihua Electron Co., Ltd. (“ Lihua Electron ”)	People’s Republic of China (“PRC”) December 30, 1999	$	10,500,000		100	%	Manufacturing and sales of pure copper wire and bimetallic composite conductor wire such as copper clad aluminum (CCA) wire and enameled CCA wire
Jiangsu Lihua Copper Industry Co., Ltd. (“ Lihua Copper ”)	PRC August 31, 2007	$	46,000,000		100	%	Manufacturing and sales of refined copper