GUANWEI RECYCLING CORP.

GUANWEI RECYCLING CORP.

Previous company name
MD HOLDINGS CORP.
Name change date
12/28/2009
Company Overview
The company, based in the United States, is engaged in the provision of traditional mortgage services. It is a publicly quoted company incorporated in the year 2006 and has its registered business address located in Reisterstown, Maryland.
The mortgage loans that the company brokers can be divided into two categories: prime or conforming loans and sub-prime or non-conforming loans. Prime or conforming loans are loans that conform to the guidelines established by certain government sponsored entities; and non-conforming loans are sometimes referred to as non-doc or reduced-doc loans because the paperwork is less extensive than with the prime or conforming loans and the borrowers does not reveal details about their income and credit history. The company derives its revenues from the brokering of mortgage loans.
Business Summary
Guanwei Recycling Corp., formerly MD Holdings Corp., manufactures a number of recycled plastics products made from low density polyethylene (LDPE) and is a manufacturer of recycled LDPE in China. On November 5, 2009, the Company consummated a share exchange transaction (the Share Exchange), pursuant, to which the Company became the 100% parent of Hongkong Chenxin International Development Limited (Chenxin) and assumed the operations of Chenxin and its subsidiary, Fuqing Guanwei Plastic Industry Co. Ltd. (Guanwei). On December 16, 2009, the Company’s wholly owned subsidiary, Guanwei Recycling Corp., a Nevada corporation, merged with and into Guanwei Recycling Corp. The Company is organized as a single business segment and is committed to sourcing and developing ideas and markets for recycled materials, and concentrates on transforming plastic waste into useful plastic grains. Guanwei produces four types of LDPE plastic grains: Grade A, Grade B, Grade C and Grade D.
Description and history
Guanwei Recycling Corp., formerly MD Holdings Corp., incorporated on December 13, 2006, manufactures a number of recycled plastics products made from low density polyethylene (LDPE) and is a manufacturer of recycled LDPE in China. On November 5, 2009, the Company consummated a share exchange transaction (the Share Exchange), pursuant, to which the Company became the 100% parent of Hongkong Chenxin International Development Limited (Chenxin) and assumed the operations of Chenxin and its subsidiary, Fuqing Guanwei Plastic Industry Co. Ltd. (Guanwei). On December 16, 2009, the Company’s wholly owned subsidiary, Guanwei Recycling Corp., a Nevada corporation, merged with and into Guanwei Recycling Corp.

The Company is organized as a single business segment and is committed to sourcing and developing ideas and markets for recycled materials, and concentrates on transforming plastic waste into useful plastic grains. Guanwei obtains raw material in the form of unrecycled plastic waste from its suppliers and uses this material to manufacture recycled plastic grains, which are then sold to manufacturers of consumer products in various industries. Guanwei’s LDPE products are used in the manufacturing of chemical and functional fibers, and is a raw material for shoe soles, insulation material, fire-proofing and water-proofing material, and foam.

Guanwei produces four types of LDPE plastic grains: Grade A, Grade B, Grade C and Grade D. Grade A is a white LDPE grain and accounts for approximately 30% of Guanwei’s sales. Grade B is a white LDPE grain and accounts for approximately 20% of Guanwei’s sales. Grade C is a white LDPE grain and accounts for approximately 20% of Guanwei’s sales. Grade D is a black LDPE grain and accounts for approximately 30% of Guanwei’s sales. All of Guanwei’s products are manufactured in warehouse and manufacturing facility located in Fuqing City. Guanwei has a sewage treatment area for processing the waste water used in the manufacturing process, which exceeds 4,800 square meters.

The Company competes with Fujian Huaxia Plastics Corp. and Youfeng Plastics Corp.

Business Line
Engaged in the provision of traditional mortgage services
Subsidiary

Advisor
BDO LTD
IPO date

US SIC Code
3081
Company Address
135, Carolstowne Road

City province or state postal code
21136, REISTERSTOWN, MD
Phone: +1 410 526 6155
Fax:
Country address: UNITED STATES OF AMERICA
Website url: www.mdmortgagecorp.com