Unusual Price Movement

The recent increase in the company's share price over three consecutive trading sessions on 25, 26 and 27 Jul 2008 represents a deviation of 20%, which according to the Stock Listing Rules of the Shanghai Stock Exchange constitutes unusual price movement.

Following consultation, Shanghai Nanjiang (Group) Co., Ltd., the controlling shareholder of the company, confirms that it does not foresee any major issues requiring disclosure within the next three months and the board of directors confirms that there are no significant undisclosed issues outstanding, in accordance with relevant regulations, nor is there any remaining undisclosed information that would materially impact the company's stock price.

The Shanghai Securities News and the website of the Shanghai Stock Exchange (www.sse.com.cn) are the company's designated media for information disclosure. Investors are advised to exercise caution when dealing in the company's shares.

Board of Directors
29 Jul 2008


Source: Shanghai Stock Exchange

Date: 30 Jul 2008

CN01/BJ /SW/BT/MM