33.15 Mln Shares Transferred

The transfer procedures of 33.15 mln shares, equal to a 34% stake in the company, from Luoyang Bearing Research Institute, the company's controlling shareholder, to China National Machinery Industry Corp., were completed on 9 Sept 2008. Following the transaction, the company's controlling shareholder is changed to China National Machinery Industry and the company's effective controller remains as the State-owned Assets Supervision and Administration Commission of the State Council. Luoyang Bearing no longer holds shares in the company. To date, China National Machinery Industry holds 33.15 mln restricted shares, equal to a 34% stake, in the company.
Board of Directors
11 Sept 2008


Source: Securities Times

Date: 11 Sept 2008

CN01/ZZ/SW/BT/KM