100 Mln Restricted Shares Pledged

On 30 Jul 2008, the company received a notice from Zeng Zhifeng, Di Zizhong and Jin Xin, three shareholders of the company, according to which a total of 100 mln restricted shares of the company (40 mln restricted shares held by Zeng, 40 mln restricted shared held by Di and 20 mln restricted shares held by Jin) were pledged to Shanghai International Trust Corp., Ltd. for trust financing. Funds raised from the trust financing will be indirectly provided to the company through Shanghai Nanjiang Group Co., Ltd., a party acting in concert with the company.

Board of Directors
1 Aug 2008


Source: Shanghai Stock Exchange

Date: 1 Aug 2008

CN/BG/LZ/BT/KM