At the 14th Meeting of the 3rd Board of Directors, held on 25 Jul 2008, the following proposals were examined and approved:

1. a self-inspection report on the possible misappropriation of funds by the controlling shareholder or related parties and a statement on rectification of corporate governance
Details of the report and the statement can be found on the website of the Shanghai Stock Exchange (www.sse.com.cn) dated 26 Jul 2008

2. to acquire a 60% stake in Shanghai Metglas Zhixin Amorphous Metals Co., Ltd., currently held by Huiying Investment Development Co., Ltd. for RMB 338 mln based on the assessed net asset value as of 30 Jun 2008.
A related agreement was signed on 25 Jul 2008. Following the equity transfer, the company will hold a 100% stake in Shanghai Metglas.

3. to hold the 1st 2008 Extraordinary General Meeting of Shareholders on 11 Aug 2008 in the morning to examine proposal 2

Board of Directors
28 Jul 2008


Source: Shanghai Stock Exchange

Date: 28 Jul 2008

CN01/FL/MZ/BT/KM