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DESCRIPTION OF BUSINESS AND ORGANIZATION (Tables)
 12 Months Ended
Dec. 31, 2013
Description Of Business and Organization [Abstract]  
Details of Subsidiaries
As of December 31, 2013, 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
 
Proportion of equity interests
The table below sets forth the proportion of equity interests in all entities involved before and after the Restructuring based on subscribed registered capital:
 
 
 
Magnify Wealth
 
 
Ally Profit
 
 
Lihua Holdings
 
 
Lihua Electron
 
 
Lihua Copper
 
 
 
 
Before
 
 
After
 
 
Before
 
 
After
 
 
Before
 
 
After
 
 
Before
 
 
After
 
 
Before
 
 
After
 
 
 
 
%
 
 
%
 
 
%
 
 
%
 
 
%
 
 
%
 
 
%
 
 
%
 
 
%
 
 
%
 
 
Shareholder
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Mr. Fo-Ho Chu (“ Mr. Chu ”)
 
100
 
 
100
 
 
—
 
 
—
 
 
—
 
 
—
 
 
45.46
 
 
—
 
 
—
 
 
—
 
 
Magnify Wealth
 
—
 
 
—
 
 
100
 
 
100
 
 
 
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
Ally Profit
 
—
 
 
—
 
 
—
 
 
—
 
 
100
 
 
100
 
 
—
 
 
—
 
 
—
 
 
—
 
 
Lihua Holdings
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
100
 
 
—
 
 
100
 
 
Danyang Special Electronics Co., Ltd. (a)
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
52.27
 
 
—
 
 
25
 
 
—
 
 
Invest Unicorn Holdings Limited (b)
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
75
 
 
—
 
 
Imbis Europe B.V. h/o Asia Trading (EDC) (“ Europe EDC ”)
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
2.27
 
 
—
 
 
—
 
 
—
 
 
 
 
100
 
 
100
 
 
100
 
 
100
 
 
100
 
 
100
 
 
100
 
 
100
 
 
100
 
 
100
 
 
 
(a)
Equity interests in Danyang Special Electronics Co., Ltd., a PRC domestic company, are held as to 60% by Mr. Zhu and 40% by his wife. Mr. Zhu and his wife are acting in concert and considered parties to the same control group.
 
(b)
Invest Unicorn Holdings Limited, incorporated in the British Virgin Islands, is 100% beneficially owned by Mr. Zhu.