In 1992, Huanghe Abrasives Factory, ODK Company, and Zhengzhou Three Grinding Research Institute invested 70, 25, 5 each, with a registered capital of 50 million yuan, to establish Huanghe Diamond Co., Ltd.
In April 1994, Huanghe Industrial (Group) Company was established on the basis of Huanghe Abrasives Factory. The shares of Huanghe Diamond Co., Ltd. held by the original Huanghe Abrasives Factory were accordingly changed to be held by the group company.
In February 1997, with approval, the group company transferred part of its equity (1 each) in Huanghe Diamond Co., Ltd. to Changge Resin Abrasives Factory and Changge Xingxing Electronic Products Factory. It is planned to reorganize the Yellow River Diamond Co., Ltd. as a whole and prepare to establish Henan Yellow River Tornado Co., Ltd.
The five shareholders of Yellow River Diamond Co., Ltd.: the Group Company, Zhengzhou Three Grinding Research Institute, Japanese ODK Company, Changge Resin Abrasives Factory, and Changge Xingxing Electronic Products Factory will each use their own products in the Yellow River The equity in Diamond Co., Ltd. was used as capital contribution, and *** as the promoter, Henan Yellow River Tornado Co., Ltd. was established by raising funds.