| | | Name | | Country of Incorporation |
1. | | China Direct Investments, Inc., a wholly owned subsidiary of China Direct, Inc.; | | USA - Florida |
2. | | CDI China, Inc., a wholly owned subsidiary of China Direct, Inc.; | | USA - Florida |
3. | | CDI Shanghai Management Co., Ltd., a wholly owned subsidiary of CDI China, Inc.; | | China |
4. | | Capital One Resource Co., Ltd., a wholly owned subsidiary of CDI Shanghai Management Co., Ltd.; | | Brunei |
5. | | Shanghai Lang Chemical Co., Ltd. a 51% majority owned subsidiary of CDI China, Inc.; | | China |
6. | | Taiyuan Changxin Magnesium Co., Ltd., a 51% majority owned subsidiary of CDI China, Inc.; | | China |
7. | | Taiyuan Changxin YiWei Trading Co., Ltd., a wholly owned subsidiary of Taiyuan Chang Magnesium Co., Ltd.; | | China |
8. | | Excel Rise Technology Co., Ltd., a Brunei company and a wholly owned subsidiary of Taiyuan Changxin Magnesium Co., Ltd.; | | Brunei |
9. | | CDI Magnesium Co., Ltd., a 51% majority owned subsidiary of CDI China, Inc.; | | Brunei |
10. | | Asia Magnesium Co. Ltd., a wholly owned subsidiary of Capital One Resource Co., Ltd.; | | Hong Kong |
11. | | Shanxi Gu County Golden Magnesium Co., Ltd., a 52% majority owned subsidiary of Asia Magnesium Co., Ltd.; | | China |
12. | | Pan Asia Magnesium Co., Ltd., a 51% majority owned subsidiary of CDI China, Inc.; | | China |
13. | | Baotou Changxin Magnesium Co., Ltd., a 51% majority owned subsidiary of CDI China, Inc. | | China |
14. | | CDI Jingkun Zinc Industry Co., Ltd., a 95% majority owned subsidiary of CDI Shanghai Management,; | | China |
15. | | CDI Jixiang Metal Co., Ltd., a wholly owned subsidiary of CDI China, Inc.; | | China |
16. | | Shanghai CDI Metal Recycling Co., Ltd., an 83% majority owned subsidiary of CDI Shanghai Management Co., Ltd.; | | China |
17. | | CDI (Beijing) International Trade Co., Ltd., a 51% majority owned subsidiary of CDI Shanghai Management Co., Ltd.; | | China |
