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Ningbo Lygend Wisdom Co., Ltd. is a trading company mainly engaged in laterite nickel ore and ferronickel trading business. It was established in June 2017 and registered in the Meishan free trade zone. Relying on the policy advantages of free trade zone, the company primarily sources from high-quality mineral resources overseas and primarily develops trading business of nickel ore and ferronickel.

Jiangsu Wisdom Industrial Co., Ltd. is a wholly-owned subsidiary of our Company, which primarily engaged in producing ferronickel.

Shanghai Lygend International Trade Co., Ltd. is a trading company established in 2018. The company is located in Shanghai, the economic and financial center of China. It uses its geographical advantages to establish a professional talent reserve center for project design and R&D to lead the construction and investment of large-scale engineering projects at home and abroad, which is the strategic platform of Lygend for globalization.

The company is mainly responsible for the facilitation of the HPAL Project and RKEF Project in Obi island of Indonesia.

Xi'an Pengyuan Metallurgical Equipment Co., Ltd. was established on February 20, 2017. The company is located in the ancient capital of Xi'an. Its main business is the manufacture and sale of machinery and equipment used in the production of nickel products, primarily including refining furnaces, electric arc furnaces, submerged arc furnaces, and certain equipment for energy conservation and environmental protection purposes, such as the flue gas purification system.