Power Price Increases to RMB 0.5462 per kWh

The company received a notice from the Price Bureau of Ningbo City, stating that the on-grid power price will be increased according to documents issued by the Price Bureau of Zhejiang Province, i.e. the kilowatt-hour rates for on-grid power generated by thermal electric co-generators will be raised from RMB 0.5212 (taxes included) to RMB 0.5462 (taxes included), effective 20 Aug 2008.

As a result, the company's 2008 operating revenue will increase by RMB 1.2 mln.

Board of Directors
2 Sept 2008


Source: Shanghai Stock Exchange

Date: 3 Sept 2008

CN01/SC/LZ/BT/KM