APWAM: view of SJAP campus
A Power Agro Agriculture Development (Macau) Ltd.

Known as "APWAM," A Power Agro Agriculture Development (Macau) Ltd. is an investment holding company.

On September 28, 2009, APWAM acquired 45% equity interest in the Sino-Foreign Joint Venture company, Qinghai Sanjiang A Power Agriculture Co. Limited (“SJAP”), which was incorporated in the People's Republic of China (PRC). SJAP is engaged in its business of the manufacturing of organic fertilizer, livestock feed, and beef cattle and plantation of crops and pastures.

The financial statements of SJAP, Qinghai Zhong He Meat Products Co., Ltd. (QZH), and Hunan Shenghua A Power Agriculture Co., Ltd. (HSA) are consolidated into APWAM, SIAF's wholly owned subsidiary, as one entity.

SJAP is a variable interest entity with SIAF maintaining a majority of the Board of Directors. SJAP owns 100% of QZH.

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