Qiao Xing Universal Resources, Inc.



Quote for Qiao Xing Universal Resources, Inc.

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XING
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NASDAQ
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Summary for Qiao Xing Universal Resources, Inc.

Qiao Xing Universal Resources, Inc. (Qiao Xing) is principally in the manufacturing and sales of telecommunication terminals and equipment, including mobile phone handsets, and corded and cordless telephone sets, in China. During the year ended December 31, 2010, the Company classified its products into two core business segments, mobile phones and mining. Aolunhua owns an open-pit copper-molybdenum mine (Aolunhua Mine) covering 14.38 square kilometers. The Aolunhua Mine is located in Ar Horqin Banner, in Chifeng City in the Inner Mongolia Autonomous Region. The Mine's designed annual processing capacity is 4.29 million tons of ore, which can yield 5,000 tons of molybdenum concentrate and 5,000 tons of copper concentrate on average grades basis.As of June 30, 2011, the Company owned 55.6% of Qiao Xing Mobile Communication Co., Ltd. On December 28, 2010, the Company's subsidiary, Chifeng Xinsheng Mining Co., Ltd (Xinsheng) acquired 34.53% equity interest in Aolunhua.