Brief introduction of Inner Mongolia Pingzhuang Energy Co., Ltd.

The predecessor of Inner Mongolia Pingzhuang Energy Co., Ltd. was Inner Mongolia Grassland Xingfa Co., Ltd. In June 2006, 10, Inner Mongolia Pingzhuang Coal Industry (Group) Co., Ltd. and Inner Mongolia Grassland Xingfa Co., Ltd. reached a reorganization opinion, and Pingmei Group reorganized Grassland Xingfa by means of asset replacement and private placement.