1In April, 1994, Yellow River Industrial (Group) Company was established on the basis of Yellow River Abrasive Factory, and the shares of Yellow River Diamond Co., Ltd. held by the former Yellow River Abrasive Factory were changed into group companies accordingly.
1February, 1997, with approval, the group company transferred part of its equity in Huanghe Diamond Co., Ltd. (each holding 1%) to changge city Resin Abrasive Factory and changge city Xing Xing Electronic Products Factory. It is planned to reorganize the Yellow River Diamond Co., Ltd. as a whole and build Henan Yellow River Cyclone Co., Ltd. ..
The five shareholders of Yellow River Diamond Co., Ltd.: Group Company, Zhengzhou No.3 Grinding Research Institute, Japanese ODK Company, changge city Resin Abrasive Factory and changge city Xing Xing Electronic Products Factory will each contribute their rights and interests in Yellow River Diamond Co., Ltd., and * * * will set up Henan Yellow River Cyclone Co., Ltd. as the promoters by raising funds.