According to the Qichacha APP, recently, Zhejiang Ruida New Materials Co., Ltd. was established, with Bai Xiaoping as the legal representative and a registered capital of 10 million yuan. The business scope includes: research and development of new material technology; promotion services for new material technology; precious metal smelting; non-ferrous metal casting; manufacturing of metal materials; sales of metal materials; research and development of metal products, etc. Qichacha's equity penetration shows that the company is wholly owned by FUDA ALLOY