Qingdao Hengxu Textile & Handicraft Co., Ltd. lies in Pingdu Development Zone for Economic and Technology, Qingdao City. Established in August of 2001, our company is a Sino-South Korean joint venture engaged in producing towels, bath towels, handicrafts, and other woven products, and we also provide deep processing services. Our company covers an area of 30,000 square meters, the first stage of investment was 3 million dollars, and our output value was RMB37 million in 2003. We have a staff of 380 people, among whom technical staff members of different fields account for 36%. Our production equipment is advanced, inspection instrument is complete, and technical capability is strong, therefore, we are a large comprehensive processing enterprise of cotton goods in Qingdao. In 2004, our company invested RMB12 million in the second stage to build a high-standard staff dormitory building, and