The company was reorganized from the former Guangdong Pearl Ball Valve Group Co., Ltd. to Guangdong Pearl Ball Valve Group Co., Ltd. with the approval of the Guangdong Economic System Reform Commission's “Guangdong Stock Review [1993] No. 61” on September 18, 1993 (renamed Guangdong Pearl Group Co., Ltd. on May 14, 2003). The company issued 60 million RMB common shares (A shares) online at the Shanghai Stock Exchange on January 4, 2001, as approved by the China Securities Regulatory Commission's Securities Regulatory Commission [2000] No. 189, with an issue price of RMB 5.50 per share. On January 11, 2001, the company registered a change with the Guangdong Administration for Industry and Commerce. The share capital was RMB 170,873,300. The company's main business is iron ore mining and iron powder production and sales. The company's main products include iron powder, gravel, etc.