At the 21st Meeting of the 2nd Board of Directors held on 13 Jun 2008, the following proposals were examined and approved:

1. to adjust certain production and management units of the company
2. to cancel the registration for four of the company's branches in Wuxi, Nanjing, Xi'an and Tianjin and to establish four wholly-owned subsidiaries with registered capital of RMB 10 mln each

Board of Directors
16 Jun 2008


Source: Shanghai Stock Exchange

Date: 16 Jun 2008

CN01/JC/AR/WH