Gengsheng International Corporation

Gengsheng International Corporation (formerly known as Powersmart Holdings Limited) is a BVI company being a 100% subsidiary of NASDAQ listed China Gengsheng Minerals Inc. (formerly known as China Minerals Technologies Inc.) The main business of China Gengsheng Minerals Inc. is conducted through the BVI-registered company Gengsheng International Corp. and its China- and BVI- based subsidiaries.

Industry: Manufacturing

Main business locations: China

Registered Office:
Tortola
British Virgin Islands

Date of Incorporation: November 3, 2004

About China Gengsheng Minerals Inc.:
Listed on : NASDAQ
Ticker: CHGS

Financial highlights (2007 6m):
Total assets: USD 50,168,000
Stockholder's equity: USD 30,762,000
Revenues: USD 18,518,000
Operating expenses: USD 3,760,000
Net income: USD 2,821,000
Earnings per share: USD 0.14

BVI Subsidiaries of Gengsheng International Corporation:
Smarthigh Holdings Limited (incorporated in the British Virgin Islands in November 2004)

About the BVI company:
Gengsheng International Corporation (previously known as Powersmart Holdings Limited) is a full-owned subsidiary of Nevada-registered China Gengsheng Minerals Inc., which develops, manufactures and markets a wide range of mineral-based and heat-resistant products, used in the iron and steel industry. China Gengsheng Minerals, founded in 1986 and based in China's Henan province, currently sells its products to more than 160 customers in the iron, steel, glass, cement, aluminium and chemical businesses located in China and in 11 other countries.

All business of the Nevada company is conducted through the BVI-domiciled Gengsheng International Corporation and its China- and BVI-based subsidiaries, - Henan Gengsheng Refractories Co., Ltd., Zhengzhou Duesail Fracture Proppant Co., Ltd., Henan Gengsheng High Temperature Materials Co., Ltd., and Smarthigh Holdings Limited.

Some months ago, China Gengsheng Minerals Inc. changed its name (formerly China Mineral Technologies, Inc.), with the change of ticker name from CMIT.OB to CHGS.OB. The BVI-based subsidiary changed its name from Powersmart Holdings Limited to Gengsheng International Corp.