At the 2nd 2008 Extraordinary General Meeting of Shareholders, held on 26 Sept 2008, a proposal to change the implementation method of raised fund-backed projects was examined and approved.

Consequently, two projects including a high-grade paper product project and a high-quality book project with digital printing technology, will be jointly implemented by Ningbo Guangbo Paper Products Co., Ltd., a subsidiary of the company and the company, instead of the company alone.

In addition, a global marketing network construction project will be jointly implemented by the company and its wholly-owned subsidiaries including Ningbo Import and Export Co., Ltd., Ningbo Guangbo Stationery Industry Co., Ltd. and Ningbo Guangbo Stationery Trade Co., Ltd. The marketing headquarters for the project will be established in the Guangbo Science & Marketing Research Building, located at the Guangbo Technology & Science Park, Ningbo City, with an investment of no more than RMB 12 mln.

Board of Directors
26 Sept 2008


Source: Securities Times

Date: 27 Sept 2008

CN01/TW/LZ/BT/KM