Sponsoring Institution Replaced

Huaxi Securities Co., Ltd., the company's previous sponsoring institution (sponsor: Zhang Bangming), in charge of corporate share reform, has terminated the agreement on share reform sponsorship.

In compliance with relevant regulations, Hong Yuan Securities Co., Ltd. has been retained as the company's new sponsoring institution and will henceforth be responsible for the supervision and oversight of matters related to corporate share reform. Zhang Bangming will no longer hold his position as sponsor, while Zhou Honggang has been appointed as his replacement.

Board of Directors
9 Oct 2008


Source: Shanghai Stock Exchange

Date: 10 Oct 2008

CN01/SC/DM/BT/KM