Shanghai Zendai Reduces Stake to 16.92%

On 29 Jul 2008, Shanghai Zendai Investment & Development Co., Ltd. sold 4.1 mln shares of the company, equal to a 0.8% stake, and on 22 Sept 2008 it sold 2.79 mln shares of the company, equal to a 0.55% stake.

Following the aforementioned transactions, Zendai Investment & Development will hold 86.59 mln shares of the company, equal to a 16.92% stake.

The aforementioned transactions are in compliance with Guidelines for Equity Transfer by Listed Companies, the company's previous share reform prospectus and an acquisition report as well as other relevant laws and regulations.

Zendai Investment & Development has pledged to neither decrease its shareholdings in the company within 24 months of the share reform scheme nor sell the shares of the company at less than RMB 7.00 per share after this period.

Board of Directors
22 Sept 2008


Source: Securities Times

Date: 23 Sept 2008

CN01/SC/LZ/BT/KM