As a wholly owned entity of Chinese Academy of Science (CAS), China Daheng Group, Inc. (CDHC) was established in 1987. CDHC maintain a very close working relationship with CAS, particularly in research and development. CDHC went public in November 2000 and is listed on the Shanghai Stock Exchange as Daheng New Epoch Technology Inc. The initially issued shares are 50,000,000 out of the originally authorized 140,000,000 in its Initial Public Offering (IPO). The remaining shares are retained as treasury stock. CDHC has more than 20 subsidiaries in China Mainland and Hong Kong. As Optics-Mechanics-Electronics Group of CDHC, our business includes: 1) Photonics components 2) Laser processing 3) Medical Instruments 4) DLP (development and manufacture of light engines licensed by and for TI) 5) Optical coating