The company's stock price reached its minimum intraday limit over three consecutive sessions on 5, 8 and 9 Sept 2008, thus constituting an unusual price movement.

Following consultation, China Real Estate Development Corp., the largest shareholder of the company, and Tianjin Zhongwei Trade Co., Ltd., the second-largest shareholder of the company, both confirm that there are no significant undisclosed issues outstanding, including private placement, asset reorganization, business reorganization, asset stripping or asset injection, nor are such issues foreseeable within the next two weeks.

In addition, the board of directors confirms that there are no significant undisclosed issues or related plans, negotiations, intentions or agreements outstanding, pursuant to relevant regulations, nor is there any remaining undisclosed information that would materially impact the company's stock price.

The China Securities Journal, the Shanghai Securities News and the website of the Shanghai Stock Exchange (www.sse.com.cn) are the company's designated media for information disclosure. Investors are advised to exercise caution when dealing in the company's shares.

Board of Directors
10 Sept 2008


Source: Shanghai Stock Exchange

Date: 10 Sept 2008

CN01/VW/DM/BT/KM