Pyung Hwa Industrial Co., Ltd. is a Korea-based company engaged in the manufacture of automobile parts. The Company mainly produces hose products, which are used for automobile cooling systems, gasoline fuel systems, steering systems, brake systems and air conditioner systems. It also provides other automobile parts and special vehicle parts. The Company distributes its products within domestic market and to overseas markets. As of December 31, 2011, the Company had 13 affiliated companies.