The company plans to establish Zhuji Hongrun Petty Loan Co., Ltd. through a joint investment with Zhejiang Honglei Holding Group Co., Ltd. (chief initiator) and Haikou Haiyue Economic Development Co., Ltd. Of the RMB 200 mln registered capital required for the new joint venture, a capital contribution of RMB 20 mln will be borne by the company.

A proposal related to the establishment was examined and approved at the 5th Meeting of the 5th Board of Directors, held on 13 Aug 2008, and will be submitted to the People's Government of Zhuji and the People's Government of Zhejiang Province for further examination and consideration for approval.

Board of Directors
15 Aug 2008


Source: Shanghai Stock Exchange

Date: 15 Aug 2008

CN01/SS/DM/BT/KM