At the 37th Meeting of the 3rd Board of Directors, held on 20 Aug 2008, the following proposals were examined and approved:

1. the 2008 Semiannual Report and its Abstract
2. to distribute a stock dividend of 10 shares from its capital reserve for every 10 shares held, based on 525 mln total shares outstanding
3. to increase the maximum guarantee limit for Nanjing Chixia Development Group Co., Ltd. (Chixia Group), the controlling shareholder of the company, from RMB 700 mln to 1 bln, which should not exceed the amount that Chixia Group has guaranteed for the company
4. to convene the 4th 2008 Extraordinary General Meeting of Shareholders on 9 Sept 2008, at which proposals 2 and 3 will be examined and considered for approval

Board of Directors
22 Aug 2008


Source: Shanghai Stock Exchange

Date: 25 Aug 2008

CN01/RL/JL/BT/KM