We are one of the major coal-based urea producers in the PRC with headquarters in Hebei. We have an operating history of over 40 years in Hebei Province. Our predecessor, Dongguang Huafei, was originally established in 1970 as a local state-owned enterprise and was later privatised and reorganised in July 1998. We have been operating in the urea industry since 2001. The early start in this growing industry had allowed us to develop into an experienced player in the region with long-term and established relationships with customers in the industry. Our long operating history has also allowed us to develop our production know-how and management which in turn enhances our production efficiency by maximising the quantity and quality of our products while minimising costs. Our management team has extensive experience and an in-depth understanding of the history and future trends of the urea industry in the PRC which is instrumental to our continued success.
Our principal product is urea, sales of which accounted for approximately 90% and 86% of our revenues for the years ended 31 December 2016 and 2017, respectively. Our other products include methanol, liquid carbon dioxide and LNG, all of which are by-products produced during the intermediate production phases of urea, sales of which accounted for approximately 10% and 14% of our revenues for the years ended 31 December 2016 and 2017, respectively.