<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>4
<FILENAME>e602295_ex21-1.txt
<DESCRIPTION>LIST OF SUBSIDIARIES
<TEXT>

                                                                    Exhibit 21.1

                                  Subsidiaries

<TABLE>
<CAPTION>
Name                                              Jurisdiction of Incorporation                    Ownership
----                                              -----------------------------                    ---------
<S>                                                  <C>                                         <C>
Upper Class Group Limited                            British Virgin Islands                      100% (Direct)

Shougang City Haoyuan Chemical Company Limited               China                               100% (Indirect)

Shougnag Yuxin Chemical Industry Co., Ltd.                   China                               100% (Indirect)
</TABLE>
</TEXT>
</DOCUMENT>
