Our research and development center at our headquarters at Changxing County in Zhejiang Province is committed to develop new technologies and high value-added products. Our industry-leading development team has created innovative motive batteries boasting new technology to support a longer product life and more consistent performance. Our dedication to innovation is further evidenced through our registration of 110 patents in China, including eight invention patents. This commitment is strengthened by our filing of 18 new patent applications for our technological know-how. Currently, all five models of our motive battery for electric cars have passed the quality tests prescribed by the China North Vehicle Quality Supervision and Testing Laboratory. We were recognized as a "National Torch Program Key Enterprise in High and New Technology" by the Ministry of Science and Technology of China in March 2009. To develop more new high value-added products, Chaowei has signed agreements with renowned automobile manufacturers including Geely and Jianghuai for joint development activities and the supply of prototype lead-acid motive batteries for electric cars. The Company is also working with other leading research institutes to develop new motive batteries and related manufacturing technologies.