QING

Qingco, Inc., formerly Qingdao Footwear, Inc., is a designer and retailer of branded footwear in Northern China. The Company's principal business includes designing and selecting designs for men’s and women's leather shoe lines; sourcing and purchasing contract-manufactured footwear, and selling these lines of footwear under its brand, Hongguan. It operates a number of stores throughout greater Qingdao. The Company is a retailer and designer of footwear products, and as such it outsources production of its footwear to third party manufacturers. As of December 31, 2010, men’s footwear constituted approximately 60% of revenue. During the year ended December 31, 2010, the Company’s stores accounted for 24% sales. On February 12, 2010, the Company completed a reverse acquisition transaction with Glory Reach International Limited. The Company competes with Jinhou Footwear Company, Liangda Leather Company, Haining Leather Footwear Company and Fude Leather Shoe Company.