Wednesday, May 30, 2012

Qiao Xing Universal Resources, Inc.

Industry: Mining

Main business locations: China

Registered address:
PO Box 344
Road Town
Tortola British Virgin Islands

Listed on: NASDAQ OTC Market
Ticker: QXU.F

About the BVI company:

Qiao Xing Universal Resources, Inc. (formerly known as Qiao Xing Universal Telephone, Inc.) currently specializes in the molybdenum-mining industry. The BVI company is focused on mining and processing rare metal ores and several base-metal ores, including molybdenum, copper, lead and zinc.

Qiao Xing currently owns a 100% equity interest in Balinzuo Banner Xinyuan Mining Co., Ltd. and a 34.53% equity interest in Chifeng Aolunhua Mining Co., Ltd., and the right to receive 100% of the expected economic residual returns from Chifeng Haozhou Mining Co., Ltd.

XING ( as Qiao Xing Universal Telephone, Inc.) was one of the first Chinese companies listed on NASDAQ, as well as one of the leading companies working in the telecommunications product business in China. In 2007, the BVI company made the strategic decision to shift its business focus from the telecommunications industry to the resources industry, and the diversification was started with the acquisition of CLJL in April 2009. Then, the company has made other acquisitions in the resources industry and divested its fixed-line and budget mobile phone businesses.

On January 28, 2010 the BVI company changed its corporate name to Qiao Xing Universal Resources, Inc. The company continues to evaluate acquisition opportunities in the resources area to strengthen its positions in the mining industry. It is also working to divest its remaining mobile-phone business to become a pure-play resources company.

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