Recently the 20,000-ton glyphosate phase 1 project in North China invested by our factory started trial operation.

We made an investment of Yuan 595 million in North China for a pesticide intermediates project covering 50,000-ton/year glyphosate, 60,000-ton/year chloroacetic acid, 30,000-ton/year glycine and 10,000-ton/year methyl chloroacetate. Upon completion of the project, it is expected to achieve an annual production value of Yuan 4.0 billion, direct export of Yuan 1.0 billion, profit plus tax of Yuan 400 million.

Our factory locates in Jiangsu Province, deployed with 11 pesticide technical production lines which produce 100,000 tons of pesticide technical per year, which mainly include insecticide, fungicide, herbicide technical and formulations. The relocation of the glyphosate production facility to north China aims to reduce cost of production so as to enhance its market competitiveness, as being backed up by the abundant chlorine, methanol, caustic soda and electric power of Northern provinces.