RMB 2.8-RMB 3.5 Mln Net Loss Projected

The company is projected to suffer a loss of between RMB 2.8 mln to RMB 3.5 mln for a period from 1 Jan to 30 Sept 2008, compared with the same period in 2007, when net profit (loss) was RMB (1,464,318) and earnings (loss) per share were RMB (0.017).

The poor performance is mainly due to the fact that no commercial houses were sold as there is a long development cycle for projects under construction, as well as the small profit generated from the production and sales of the company’s pharmaceutical products. Consequently, the company expects to extend its loss in 3Q 2008.

Detailed figures can be found in the company’s 3Q 2008 Report.

Board of Directors
20 Aug 2008


Source: Securities Times

Date: 20 Aug 2008

CN01/BG/JL/BT/KM