SHANGHAI WANYE ENTERPRISES CO., LTD is principally engaged in property development and operation, as well as coal business. The Company involves in the distribution, leasing and management of residential communities. The Company also involves in construction material trading and iron ore businesses. During the year ended December 31, 2011, the Company sold approximately 57,700 square meters of property. It operates its businesses primarily in Shanghai city, Anhui province, Hunan province and Inner Mongolia autonomous region, China. On July 8, 2011, the Company acquired 60% interests in two Singapore-based companies, respectively. On November 4, 2011, the Company sold its 96% interests in an Inner Mongolia-based company.