Asia Cassava Resources, set up in 1984, isthe largest exporter of dried cassava chips in Thailand and the largestsupplier of dried cassava chips imported from Thailand to the PRC between 2003and 2014. The bilateral trade of dried cassava chips between Thailand and thePRC was about two-third of the world total and Asia Cassava Resources accountedfor over 30% traded between the two countries. The Group began its cassavaprocurement business in Thailand in 2001 sourcing dried cassava chips fromSoutheast Asia, storing them in its warehouse facilities, organising shippingand delivery logistics and selling the products mainly under its own “Artwell”brand to customers in the PRC. The Group maintains business relationships withover 200 cassava suppliers in Southeast Asia and the customers it serves aresizeable enterprises in their respective industries including ethanol fuel,consumable ethanol and chemical products. Currently, the Group operates ninewarehouses and jetty facilities throughout Thailand, and branches in Cambodia,Laos, and Vietnam. The Group also has five offices and liaison centres locatedin Rizhao, Qingdao, Jinan, Lianyungang and Shenzhen.

The dried cassava chips supplied by theGroup have a starch content of 67% or above, which is higher than the 65%Standard for Cassava Product[s] issued by the Ministry of Commerce of Thailand,and much appreciated by customers. The Group also pioneered the “365-day opendoor policy” sourcing cassava chips at open price to guarantee it has stabledried cassava supply and cassava farmers in Thailand have steady incomes.