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Speech of Company Representative on 923 Banquet--by Mr. Wu Mengzong, Deputy General Manager of Chunyu (Dongguan) Metal Products Co., Ltd. Ladies and Gentlemen, Good evening! It's my pleasure to attend the banquet tonight on behalf of Chunyu Group. Since 1949, Chunyu Group, founded in Taiwan, is always persisting in the quality policy "serve the society with best-quality products" and the management concept "creation, efficiency and service" to improve the product technique and quality, which makes our "LION" brand products well received home and abroad. Since establishing our mainland factory in Dongguan in 1997, we always keep pace with the national industry development policy to meet the market demand. Based on Chunyu tradition, we continuously introduce advanced manufacturing equipment in our Dongguan factory. From raw material processing to products manufacturing, we operate a strict system to guarantee the quality. Recently, with rapid development in mainland fastener industry, lots of problems have occurred and become the bottle-neck of development. What's more, the fluctuation of raw material since last year, rising operating costs and anti-dumping cases in EU and U.S., all these force the fastener industry to face various challenges after years of rapid development. "Made in China" products, which represented cheap and low-end in the past, will be challenged by other emerging areas. To meet the impact and challenge in future, we must enhance the class and quality to jump out of the circle of low-price competition. Since 2003, Chunyu has proceeded to the market adjustment and product upgrade. Mainland processing and then overseas export has been substituted by direct mainland user market. In order to increase domestic market ratio, enhance product class, we passed and promoted ISO 9000, ISO/TS16949, RoHS accreditation, ISO 14001, etc. Till now, we have inputted nearly 30 million yuan in renewing the equipment and introducing six-stage screw formers to advance production ability and class. In future, Chunyu will continue to take root in mainland and actively carry out R&D project. With solid technique foundation in Taiwan headquarters, we will gradually transfer the manufacturing techniques to Dongguan factory to get developing priority in the future market. Finally, I wish this show a great success and all of you prosperous business, good health and happy families. Thank you!