Mr. Chen: China Clean Energy is located in Fuqing City, in the Fujian Province of China. China Clean Energy engages in development, manufacturing and distribution of biodiesel and specialty chemical products made from renewable resources. Since its inception, the company has been engaged in the manufacture of high-quality, specialty chemical products from renewable resources. Through its research and development effort, we develop a proprietary process for refining biodiesel fuel from waste grease and certain vegetable oils, like palm oil, jojoba oil and cottonseed oil. Our products are environmental friendly and come from constant renewable resources.
Our customers' end product will be something like antirust oil that's used for ships, bridges and also other buildings, and also on soap and detergents, coating for electronic appliances, and glue, lubricants and printing ink.
TWST: If we were speaking 12 months ago, what would have been the goals and expectations you had for China Clean Energy? What would be your report card on the past 12 months with respect to your performance?
Mr. Chen: As you know, the slowdowns in the global economy and a lower oil price continued to affect both our specialty chemical and biodiesel businesses during the first quarter of 2009. And at the time, our primary goals were maintaining relationships with our customers and finishing construction of our new facility in Jiangyin, so we could be well positioned when the global market recovers. And as we move into the second quarter, we are encouraged by a sign of recovery in demand for our product. We delivered higher operating margins and relatively stable revenue in the second quarter of 2009. And during the fourth quarter, we reported strong results. And we commissioned our Jiangyin plant and significantly increased our capacity, which positioned us, China Clean Energy, well to participate in the expected recovery of the global economy.
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