The company was notified by Wanhoo Wanjoo Group Co., Ltd., the largest shareholder of the company, that on 24 Sept 2008 Wanhoo Wanjoo released 12 mln restricted shares of the company, equal to a 5.5% stake, which had previously been pledged to Hangzhou Xizi Pawn Corporation.

Pertinent registration procedures have been completed with China Securities Depository & Clearing Corporation Limited, Shanghai branch.

Board of Directors
25 Sept 2008


Source: Shanghai Stock Exchange

Date: 25 Sept 2008

CN01/RL/JL/BT/KM