Peerless Bicycles Co., Ltd. Guangzhou (Former Huadu Hongye Bicycles Factory) was established in 1989 with the HQ locating in Longkou Industrial Zone of Huashan Town, Huadu District, Guangzhou. The registered capital of the company reaches 750,000 RMB with the total assets of the enterprise reaching RMB57 million (fixed assets: RMB47 million). At present, the company specializes in manufacturing and selling common bicycles, environment protection bicycles and bicycle frames. As a civil operated enterprise, the company occupies an area of 50 hectares. In addition, the company has established a 10-hectare workshop in Nancun, Huashan Town which specializes in manufacturing various kinds of bicycle frames and is equipped with Japan automatic static spraying equipments and advanced Taiwan bicycle frame product lines and entire bicycle assembly lines. Since the establishment in 1989, the company has developed into a middle size enterprise with over 720 staffs, among which, 120 of them are graduated from technical school or above, over 60 are technical and management staffs who are graduated from college (3 engineers, 10 economists, 20 technicians, 40% is graduated from college). The annual sales volume of the company exceeds 600,000 sets and the annual production value exceeds RMB100 million, and the tax subscribed exceeds RMB2 million. The clients of the company covers both home and abroad market.