Sunlong has two business divisions: Shengrong, which engages in the production and sales of solid wasterecycling and comprehensive utilization equipments; and TJComex, which engages in provision of commodity exchange services and ship exchange consulting services. For the years ended December 31, 2015, December 31,2016 and for the six months ended June 30, 2017, Sunlong generated revenues of approximately $23.9 million,$26.3 million and 24.8 million, respectively.
Shengrong, is focused on the research, development, production and sale of an array of solid waste recycling systems for the mining and industrial sectors in the PRC. Shengrong provides end users in these markets with a clean alternative to traditional waste disposal by significantly reducing solid waste discharge into the environment and enabling such users to extract value from valuable metals and other industrial waste materials. TJComex is engaged in iron ore trading, wine import and resale, and Agarwood trading. TJComex also generated revenue from ship exchange consulting services during the first quarter 2017 but this may not be the future focus of TJComex. TJComex has obtained initial licenses to establish its commodity exchange platform,and it plans to obtain the relevant specific commodity-specific licenses and cooperate with warehouse and logistics businesses in order to build out electronic commodity exchange platforms. Additionally, if TJComex intends to provide services on these platforms, pursuant to the Administrative Measures on Internet Information Services, TJComex will be required to obtain a license for operation of value-added telecom services of Internet information services with the relevant provincial or municipal-level telecom administrative agency.
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