The company announced on 27 June 2008 that it plans to invest RMB 277.8 mln in a photovoltaic glass project capable of producing 5.6 mln sq. metres annually.

Statistics show that the actual output of photovoltaic glass in 2007 accounted for only 60% of demand. The shortage will be amplified with the surge in development of the photovoltaic industry.

Following its completion, the project is expected to annually generate an average of RMB 300.58 mln in operating revenue and RMB 56.27 mln (taxes excluded) in profit, with a profit margin of 25.39%.

In addition, the company plans to sell certain unused equipment for approximately RMB 14.07 mln, although the net book value of the equipment is only RMB 2.16 mln.

Source: First Financial Daily

Date: 27 Jun 2008

CN01/NW/MZ/BT/MM